Mogo Inc. (MOGO) surged 90.47 percent to $1.90 on Tuesday after its portfolio company, WonderFi Technologies, revealed a definitive acquisition agreement with Robinhood Markets. Under the deal, Robinhood will acquire all outstanding WonderFi shares at C$0.36 per share in an all-cash transaction valued at approximately C$250 million, representing a 41 percent premium to WonderFi's prior close.
MOGO shares opened at $1.01 and jumped as high as $2.73 during intraday trading on the Nasdaq. Volume exploded to 95.6 million shares, vastly exceeding the average daily volume of about 76,000. The stock's 52-week range now stands between $0.74 and $2.73.
The deal reinforces investor confidence in Mogo's investment in WonderFi and highlights the strategic value of its digital asset exposure.
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