Mogo Drops 10.46% Amid Robinhood's WonderFi Acquisition

On May 14, 2025, Mogo's stock experienced a significant drop of 10.46% in pre-market trading, marking a notable decline in its share price.

Mogo, as the largest shareholder of WonderFi with approximately 82 million shares, has been actively involved in the recent acquisition of WonderFi by Robinhood. Mogo has signed a voting support agreement in favor of the transaction, aligning with other key stakeholders to facilitate the deal.

Robinhood's acquisition of WonderFi, valued at approximately CAD 250 million, represents a substantial premium for WonderFi shareholders, including Mogo. The all-cash deal is expected to close in the second half of the year, with WonderFi continuing to operate its products and leadership team remaining in place under Robinhood Crypto.

This acquisition is part of Robinhood's broader strategy to expand its presence in the Canadian crypto market, following its establishment of a headquarters in Toronto in 2024. The deal also comes on the heels of Robinhood's recent acquisition of cryptocurrency exchange Bitstamp for $200 million in cash, further solidifying its position in the global crypto landscape.