In contemplation of the transaction, goeasy performed a thorough review and due diligence of the loan portfolio. In addition to acquiring the loan portfolio, the transaction will include a three-year lending partnership with Mogo after a successful five-month pilot that began in October 2019.
Mogo Inc. (TSX: MOGO) (NASDAQ: MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced the launch of its new digital spending account ("MogoSpend") with Mogo Visa* Platinum Prepaid Card. This is the first product of its kind designed to help Canadians get better control over their spending, while earning best-in-class cashback and having a positive impact on the environment.
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced its financial and operational results for the fourth quarter and full-year ended December 31, 2019. The Company also commented on the impact of the COVID-19 pandemic on its business and operations and management's plans to address the current economic uncertainty.
VANCOUVER , Nov. 7, 2019 /CNW/ - Mogo Inc. (MOGO) (MOGO) ("Mogo" or the "Company"), a financial technology company, today announced its financial and operational results for the three and nine months ended September 30, 2019 . "It was a very active and productive quarter for Mogo as we continued to use technology to transform how Canadians manage their financial health and reduce financial stress," said David Feller , Mogo's Founder and CEO. "We continued building the leading mobile-first fintech platform, while also growing our member base to almost one million Canadians," said David Feller , Mogo's Founder and CEO.
Mogo Inc (MOGO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced that it has extended the term of its marketing collaboration agreement with Postmedia Network Inc. ("Postmedia"), which will provide over $15,000,000 of annual media value for the next 3 years. The agreement is now extended until January 2023.
Mogo Provides Business Updates
By Lisa Thompson NASDAQ:MOGO READ THE FULL MOGO RESEARCH REPORT Mogo Finance Technology, Inc. (NASDAQ:MOGO) reported another quarter of growth for Q3 2019, beating expectations despite controlled marketing spend and its slow transition to partnership lending. Strongest was lending revenues as customers moved to higher interest loans and the member base expanded. Going forward, as the company
Both documents have been filed with the securities regulators in each province and territory of Canada , except Quebec , and a corresponding shelf registration statement on Form F-10 ("Registration Statement") has been filed with the United States Securities and Exchange Commission ("SEC") under the U.S.-Canada Multijurisdictional Disclosure System ("MJDS").
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced amendments to its existing senior credit facility ("Credit Facility – Other") with funds managed by affiliates of Fortress Investment Group LLC ("Fortress"). The amendments lower the effective interest rate from a maximum of LIBOR plus 12.5%, with a LIBOR floor of 2% to LIBOR plus 9%, with a LIBOR floor of 1.5%, effective July 2, 2020. In addition, the amendment increases the available loan capital from $50 million to $60 million and extends the maturity date of the facility by two years from July 2, 2020 to July 2, 2022.
VANCOUVER , Feb. 28, 2020 /CNW/ - Mogo Inc. (MOGO) (MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced a three-year lending partnership with goeasy Ltd. (GSY.TO) ("goeasy"), as well as the sale of the majority of its MogoLiquid loan portfolio ("MogoLiquid Portfolio") to goeasy, consistent with Mogo's strategic plan to reduce its on balance sheet lending and focus on leveraging its proprietary digital lending platform to originate loans for key partners. The lending partnership builds on a successful pilot program with goeasy, which commenced in October 2019 .
The S&P 500 is up 3.6% this week, marking another swing in a six-week run of volatile trading. At 2,968, the index is still down 8% year-to-date, but is holding at resistance levels indicative of a true rally. Investor confidence is high, and traders are clearly willing to buy in right now.Reviewing the situation for investment research firm CFRA, analyst Sam Stovall sees the current market as the prelude to all-time highs: “In other bear markets going back to 1929, and the average 13 month advance was 50%.” In his view, short-term losses will be transitory, and, “Wall Street is focusing more on what will be beyond the next 6 to 9 months rather than what could be happening in the next 2 to 3 months.”The rally has raised a question, though – where to invest?To find names that can deliver solid returns and come with a bargain price tag, these investors will often turn to penny stocks, or those trading for less than $5 per share.Sure, there could be a very good reason these tickers are so affordable, but should there be even minor share price appreciation, massive percentage gains could materialize, along with hefty profits for investors.Bearing this in mind, we used TipRanks database to pinpoint three Buy-rated penny stocks that have earned a thumbs up from members of the analyst community. Not to mention each boasts substantial upside potential of over 70%.Mogo Finance Technology (MOGO)First on our list is a micro-cap fintech, Mogo. This company offers customers options for financial management, including credit score viewing, identity fraud protection, mortgage services, personal loans, and prepaid Visa cards. Mogo uses direct contact with customers to bypass big banks and hidden fees.Like many small companies, Mogo has had a hard time in dealing with the economic effects of the coronavirus epidemic in Q1. MOGO shares are down 68% in the past three months. Yet, B Riley FBR, analyst Scott Buck sees Mogo’s membership growth as the key to the company’s forward prospects.“While growth initiatives are likely to slow in the near term, we believe managingthe business through the current headwinds will be enough to drive meaningful upside to MOGO shares from current levels. We believe positive cash flow should serve as a bridge for investors as we expect growth to move to the forefront in late 2020 and into 2021 [...] While these headwinds are likely to persist near term, we believe Mogo is still positioned to be a long-term winner in the consumer finance sector," Buck noted.Buck put a $4 price target on MOGO shares, supporting his Buy rating and suggesting a whopping 371% upside potential for the coming year. (To watch Buck’s track record, click here)Wall Street is in agreement that MOGO’s doldrums are temporary. The stock’s three recent Buy ratings make the analyst consensus a unanimous Strong Buy, while the $3.01 average price target implies a robust 255% upside potential from the 85-cent current trading price. (See MOGO stock analysis on TipRanks).Eagle Bulk Shipping (EGLE)Next on our list is Eagle Bulk Shipping, a player in international oceanic trade. Eagle’s fleet of dry bulk cargo carriers move a range of products around the world, including cement, coal, fertilizer, grains, and iron ore. The company boasts a market cap of $137 million, and a fleet of 50 Ultramax and Supramax cargo vessels.After badly missing the earnings forecast in Q4, Eagle surpassed the Q1 estimates by 67%. The strong performance came even as quarterly revenue fell year-over-year and the COVID-19 pandemic shut down economic activity around the globe. EGLE reported a net loss of 5 cents, against the 15 cents expected. Total revenue came in at $47.8 million, a modest 1.4% above the forecast.Covering EGLE for Evercore ISI, analyst Jonathan Chappell writes, “Lower interest costs amid plummeting LIBOR rates and lower G&A expenses should help offset some of the top-line headwinds for 2Q, as well as the remainder of this year [...] Management is confident that continued execution of this track record along with a cyclical recovery in the dry bulk market will enable the shares to begin to reflect this value add. We agree..”Chappell rates EGLE shares an Outperform (i.e. Buy), and while he has lowered his price target from $3.50 to $3.00, the new target still indicates a potential 68% upside for the year. (To watch Chappell’s track record, click here)The Wall Street analyst corps is actually slightly more bullish here than Chappell allows. EGLE shares have a Strong Buy analyst consensus rating, based on 3 Buys and 1 Hold, and an average price target of $4.13 suggests a possible 131% one-year upside potential. (See Eagle Bulk Shipping stock analysis on TipRanks)PowerFleet, Inc. (PWFL)The last penny stock on our list PowerFleet, a wireless asset management company. PowerFleet’s products offer connectivity for industrial trucks, rental vehicles, and other transport assets. Based in New Jersey, the company has a $128 million market cap and a worldwide customer base. PowerFleets’s products and workforce have been recognized by the US Department of Homeland Security as essential for meeting the challenges presented by the COVID-19 epidemic.Being classed as an essential service gave the company a boost in Q1, and PowerFleet met expectations for quarterly earnings. The company reported over $30 million in total revenue, up 126% year-over-year, and generated $2.8 million in operating cash flow. PowerFleet finished the first quarter with plenty of liquidity, reporting $16.6 million in cash and cash equivalents, as part of $24.1 million in working capital. Share prices ticked up modestly after the earnings release.Reviewing the company for Canaccord, 5-star analyst Michael Walkley set an $8 price target on the stock, showing his confidence in a solid 79% upside in the next 12 months, and backing his Buy rating. (To watch Walkley’s track record, click here)In his comments on PWFL, Walkley wrote, “For fleet management, we believe PowerFleet is one of the only true end-to-end solutions in the market spanning in-cab, refrigerated trailers, dry vans, and containers… we believe the combined PowerFleet has a strong portfolio of products on a leading platform to grow its market share – as evidenced by its strong global customers including Jungheinrich, Nestle, Walmart, Michelin, Caterpillar and others.”The analyst consensus on PWFL shares is a Strong Buy; the stock has 5 recent reviews, including 4 Buys and a single Hold. The shares are selling for $4.82, and the average price target of $7.40 suggests it has room for 53% upside growth in 2020. (See PowerFleet stock analysis at TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Convertible Debentureholders voted over 94% in favour of the extraordinary resolution, with over 78% of the outstanding aggregate principal amount of Convertible Debentures being voted. Amendment of the definition of change of control provision to provide the Company with greater flexibility to pursue or enter into a strategic transaction.
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, today announced that Greg Feller, President, will be participating in the Raymond James Technology Investors Conference, which is being held December 9-11, 2019 in New York. Mogo's management is available for one-on-one meetings on December 11, 2019.
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, announced today that it has provided enhanced terms to the amendments to its 10.0% convertible senior secured debentures due May 31, 2020 (TSX: MOGO.DB) (the "Convertible Debentures") to be considered at the meeting of holders of the Convertible Debentures ("Convertible Debentureholders") to be held on May 22, 2020 (the "Meeting").
Financial stress continues to be the number one stressor for Canadians and is even more pronounced among millennials, with surveys showing that 76% cite it as their top source of stress. Almost 6 in 10 Canadians now carry credit card debt and getting out of debt has been the number one financial goal nine years in a row.
In a preliminary tally following the early consent deadline of May 15, 2020 , proxies representing more than 68% of the principal amount of Convertible Debentures outstanding have been tabulated, with 94% of the votes received to date in favour of the Amendments. For the Amendments to be approved, holders representing at least 25% of the principal amount of Convertible Debentures outstanding must be represented live or by proxy at the Meeting and at least 66 ⅔% of these holders must vote FOR the extraordinary resolution approving the Amendments.
Mogo Schedules Q4 & Fiscal Year-End 2019 Earnings Release and Conference Call
Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ("Mogo" or the "Company"), one of Canada's leading financial technology companies, announced today that it will be relying on the exemptions provided in BC Instrument 51-315 – Temporary Exemption from Certain Corporate Finance Requirements and BC Instrument 51-516 – Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials (and similar exemptions provided by the other Canadian securities regulators) in connection with the COVID-19 pandemic to postpone the filing of the following continuous disclosure documents pursuant to National Instrument 51-102 – Continuous Disclosure Obligations: (i) the Company's interim financial report for the quarter ended March 31, 2020; (ii) the associated management's discussion & analysis (together with the Company's interim financial report for the quarter ended March 31, 2020, the "Q1 2020 Financial Reports"); and (iii) the executive compensation disclosure to be contained in its management information circular in connection with its annual general meeting of shareholders.
As COVID-19 continues to transform our economic reality, two megatrends are converging to create a once in a lifetime investment opportunity