Mogo jumps as BTIG rates 'buy' on fintech 'super-app' prospects
15/06/2021 16:18
** Shares of Canadian fintech firm MOGO.TO rise 4.1% to
C$9.12 as brokerage BTIG initiates coverage with "buy" rating
** MOGO's acquisition of peers Carta Worldwide and Moka
Financial as well as stake in crypto platform Coinsquare
accelerates assembly of fintech "super app" - brokerage BTIG
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** App includes lending, bitcoin trading, saving and
investing, with commission-free stock trading and peer-to-peer
payments set to be added this year - brokerage
** BTIG says Mogo's valuation does not reflect scarcity of
its platform in Canadian market or its growth prospects
** Mogo's stake in Coinsquare is under-appreciated - BTIG
** Mogo separately says it has bought additional Coinsquare
shares, taking its ownership to about 39% of outstanding common
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** MOGO, rated "strong buy" on average by four analysts, up
88% YTD
(Reporting by Praveen Paramasivam in Bengaluru)
((Praveen.Paramasivam@thomsonreuters.com))