WonderFi Stock (TSE:WNDR) Blasts Up After Robinhood Buys It

Big news for Canadian cryptocurrency stock WonderFi (TSE:WNDR), as it got bought out by no less than Robinhood (HOOD). The sale gives Robinhood a major new step into the Canadian market, and shares of WonderFi exploded to the upside, as investors piled in before the terms of the buyout could take place. Shares of WonderFi were up over 35% in Tuesday morning’s trading.

Robinhood laid out a hefty C$250 million to pick up WonderFi, an all-cash deal that left WonderFi valued at C$0.36 per share. That represented a 41% premium against Monday’s closing price. As for the reason behind it all, Robinhood reportedly picked up WonderFi in a bid to get a better foothold in the Canadian cryptocurrency market. No layoffs will result, reports suggest, as current employees will simply become Robinhood employees instead.

With cryptocurrency in general seeing something of a renaissance under the Trump administration, picking up a presence in cryptocurrency is becoming more and more of a smart idea to take advantage. It is a safe bet that cryptocurrency regulations will be significantly more relaxed, and we have already seen some evidence of this. And Robinhood has been working to line up a greater share of the cryptocurrency market for itself; just last year, it bought Bitstamp for $200 million.

Does That Include Ransom Expenses?

The C$250 million that Robinhood posted to buy WonderFi no doubt comes as a welcome development, especially since, just about a month ago, WonderFi revealed that the company’s CEO, Dean Skurka, had been kidnapped back in November, and the costs to get him back amounted to $3.6 million.

Though that was not all ransom, reports noted. The company not only paid a ransom to get Skurka back, but also staged some “security upgrades,” presumably to keep Skurka—or anyone else sufficiently highly-placed to merit a corporate ransom—from getting kidnapped again. But given that WonderFi controlled both Bitbuy and Coinsquare—now Robinhood properties as well—and those two controlled $2.1 billion in client assets back in late 2024, it is little surprise Skurka proved an attractive target.

Is WonderFi a Good Stock to Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:WNDR stock based on two Buys assigned in the past three months, as indicated by the graphic below. After a 15.91% rally in its share price over the past year, the average TSE:WNDR price target of C$0.55 per share implies 59.42% upside potential.

See more TSE:WNDR analyst ratings

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