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Mogo Finance Technology ( (TSE:MOGO) ) just unveiled an update.
Mogo Inc. held its annual general meeting of shareholders where all proposed resolutions, including the election of directors, reappointment of auditors, and renewal of the stock option plan, were approved. The meeting saw a significant shareholder turnout with 38.94% of outstanding shares represented. The approval of these resolutions supports Mogo’s strategic initiatives and reinforces its commitment to providing innovative financial solutions, potentially strengthening its market position and stakeholder confidence.
The most recent analyst rating on (TSE:MOGO) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Mogo Finance Technology stock, see the TSE:MOGO Stock Forecast page.
Spark’s Take on TSE:MOGO Stock
According to Spark, TipRanks’ AI Analyst, TSE:MOGO is a Neutral.
Mogo’s overall stock score is primarily driven by concerns over financial stability due to high leverage and negative earnings, despite revenue growth and cash flow improvements. Technical indicators suggest mixed momentum, while valuation metrics indicate ongoing profitability challenges. The strategic shift towards AI and growth in key segments provide a positive outlook, balancing some of the financial risks.
To see Spark’s full report on TSE:MOGO stock, click here.
More about Mogo Finance Technology
Mogo Inc. is a financial technology company that operates in three main business lines: wealth, lending, and payments. The company focuses on providing innovative financial solutions to enhance consumers’ long-term financial health and success. Mogo’s wealth and lending services are primarily targeted at the Canadian market, where it uniquely combines subprime consumer lending with a comprehensive wealth and investing solution. Additionally, Mogo’s payments business is conducted through its subsidiary, Carta Worldwide, which offers modern card issuing and processing solutions mainly in Europe.
Average Trading Volume: 87,554
Technical Sentiment Signal: Sell
Current Market Cap: C$41.6M
For an in-depth examination of MOGO stock, go to TipRanks’ Overview page.