From Investing.com:

Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) has announced a strategic shift in treasury management towards Bitcoin and Bitcoin ETFs, with an initial investment authorization of up to $5 million. President Greg Feller cited Bitcoin’s long-term potential and recent regulatory approvals, as well as major investments from firms like Fidelity and BlackRock.

As of Q3 2023, Mogo reported $43.7 million in cash and investments. The company also highlighted its 13% ownership in WonderFi Technologies Inc. (TSX: WNDR), a regulated crypto investing platform in Canada. Mogo offers various financial products and services, like commission-free stock trading and a digital payments platform called Carta Worldwide.

InvestingPro Insights show Mogo’s market cap at $52.28 million, with a negative P/E ratio of -1.18. Despite this, the stock has shown a 10.47% return over the last week. Tips suggest Mogo has seen positive returns over the last month and three months, indicating growing investor confidence. The stock also trades with high price volatility, which may appeal to certain investors.



Read more at Investing.com: Mogo Inc. diversifies with Bitcoin investment strategy By Investing.com