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Mogo Rises Following H.C. Wainwright Comments -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Mogo Inc. (TSX:), shares rose to $3.07 on Wednesday, after Scott Buck from H.C. Wainwright provided bullish commentary.

Buck decreased the Mogo firm’s price target from $12 to $8 while maintaining a buy rating.

An analyst informed investors in a research paper that the company was experiencing a “recession.” investment in NFT Trader — announced Tuesday — offers upside potential.

According to the analyst, Mogo is still executing its strategy. However, crypto- and small-cap tech stocks’ valuations are under pressure. This makes it possible to reduce Mogo’s price target.

Buck suggested that investors take advantage of Mogo’s “dislocations of market valuation” to build a position.

Mogo announced earlier today that it had appointed Allan Smith to the new Chief People Officer position. Mogo shares rose 3% to close.

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