Mogo Stock Surges 307701.31% in Trading Volume, Becomes 418th Most Traded Stock as Robinhood Acquires WonderFi for C$250 Million

On May 13, 2025, Mogo (MOGO) experienced a significant surge, with a trading volume of 2.59 billion, marking a 307701.31% increase from the previous day. This surge positioned Mogo as the 418th most traded stock of the day, reflecting a 53.52% increase over the past two days, with a cumulative rise of 53.54%.

Mogo's portfolio company, WonderFi Technologies Inc., has entered into a definitive agreement with Robinhood Markets, Inc. and its subsidiary. Under this agreement, Robinhood will acquire all outstanding common shares of WonderFi for C$0.36 per share, totaling approximately C$250 million. This acquisition represents a significant premium for WonderFi shareholders, with the purchase price reflecting a 41% premium over the closing price on the Toronto Stock Exchange on May 12, 2025, and a 71% premium over the 30-day volume-weighted average trading price.

Greg Feller, Mogo’s President & Chief Financial Officer, highlighted the strategic importance of this transaction, noting that it provides immediate liquidity and solidifies value for shareholders. Mogo played a crucial role in shaping WonderFi, orchestrating the merger of Coinsquare with WonderFi in July 2023, which brought together two of Canada’s most influential crypto trading platforms. This strategic move set the stage for the current milestone.

Mogo, as WonderFi’s largest shareholder, holds approximately 82 million common shares. The transaction is expected to close in the second half of 2025, subject to shareholder and regulatory approvals, as well as the satisfaction of other customary closing conditions. Mogo and certain other shareholders, collectively holding approximately 28% of the issued and outstanding common shares, have agreed to vote in favor of the arrangement, subject to certain conditions.