Mogo Inc (British Columbia)
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Financials : Consumer Finance | Small Cap Value
Based in Canada
Company profile

Mogo Inc (British Columbia) Is a Canada-based financial technology company. The Company offers a financial health application that offers consumers with simple solutions to help them manage and control their finances. It allows users to sign up for a MogoAccount and get access to six products including free credit score monitoring, identity fraud protection, digital spending account with Platinum Prepaid Visa Card, digital mortgage experience, the MogoCrypto account, which enables the buying and selling of bitcoin, and access to smart consumer credit products through MogoMoney.

Postmarket

Last Trade
Delayed
$1.46
0.01 (0.69%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$1.45
Day's Change
-0.01 (-0.68%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
1.54
Day's Low
1.43
Volume
(Average)
Volume:
104,972

10-day average volume:
114,220
104,972

UPDATE: The surge from the March lows masks how volatile stock markets still are

10:24 am ET July 8, 2020 (MarketWatch)
Print

By Steve Goldstein, MarketWatch

Tuesday broke a remarkable run of five straight gains of at least 0.5% by the S&P 500.

How remarkable? Michael Batnick, director of research at Ritholtz Wealth Management, calculates that it is a roughly once-in-2,000-days likelihood (https://theirrelevantinvestor.com/2020/07/07/up-and-down/), given that the S&P 500 has gained at least 0.5% about 28% of the time, going back to 1993.

The other times this happened was 2011, 2009, 2008 and twice in 1999 -- all periods of above-average volatility.

His point is that, while investors may not be viewing conditions as volatile after the recovery that has sent the S&P 500 up 41% from its March lows, markets still are choppy. "The reason for this, stating the very obvious, is that volatility feels much better on the way up then on the way down," Batnick says.

The moral to the story is that volatile markets force investors to "learn or relearn our true tolerance for risk. And, even if you've invested through periods like this before, sometimes we need a reminder of what risk feels like."

The buzz

There were violent clashes in Serbia over the reimposition of lockdown measures, while Australia's prime minister defended the six-week lockdown measures imposed on Melbourne. The U.S. saw a spike in coronavirus deaths on Tuesday, though that could represent in part a lag in reporting after the holiday weekend.

The U.S. reportedly has considered a proposal to undermine the Hong Kong dollar's peg to the greenback, according to a Bloomberg News report that said the idea has faced strong opposition internally. Shares of HSBC Holdings (HSBA.LN), with 35% of its customer accounts in Hong Kong, slumped in London.

British Prime Minister Boris Johnson told German Chancellor Angela Merkel that the U.K. was willing to leave the European Union on what he called "Australian" terms, according to a U.K. government spokeswoman, which implies a harsh exit at the end of the year.

U.S. President Donald Trump hosts talks with Mexican President Andrés Manuel López Obrador to celebrate the U.S.-Mexico-Canada trade agreement.

Atlanta Federal Reserve President Raphael Bostic, who in an interview on Tuesday spoke of a stalling U.S. economy, is due to deliver a Wednesday speech. Consumer-credit data highlight a thin U.S. economics calendar.

Aluminum-products maker Alcoa (AA) provided preliminary second-quarter results that were above analyst expectations.

Nokia shares (NOKIA.HE) slumped in Helsinki on concerns that Samsung may supplant the equipment maker as a supplier to Verizon Communications (VZ).

KKR (KKR) said it's buying insurer Global Atlantic Financial Group, for about $4 billion. Allstate (ALL) is paying the same in its all-cash deal for National General Holdings (NGHC).

Sign up to Barron's Investing in Tech series, which on Wednesday features Peloton's chief financial officer Jill Woodworth (https://www.barrons.com/conferences/techinnovation)

The market

U.S. stock futures inched higher as the open approached.

Gold , which broke the $1,800 per ounce level for the first time in nine years (http://www.marketwatch.com/story/gold-prices-retreat-as-us-dollar-firms-2020-07-07) on Tuesday, extended gains.

Oil futures eased.

The chart

Barclays has been producing its annual "equity gilt study" since 1956, and Wednesday's publication includes its analysis for the post COVID-19 world, including how governments will navigate out of their debt challenges. But the heart of this report is this simple table, which shows inflation-adjusted returns for U.S. asset classes, going back to 1926. (Barclays also has data for the U.K., going back to 1899.) Besides the obvious point that this year's stock-market returns are unlikely to meet last year's, even over 10 years equity returns have been above normal.

The tweet

National Basketball Association commissioner Adam Silver's name was trending on Twitter, as users discussed the unappetizing meal Denver Nuggets guard Troy Daniels showed off on Instagram. The basketball league's plan is to have players and coaches isolate at Walt Disney World in Orlando to conclude the season.

(https://twitter.com/espn/status/1280705906485932032)

Random reads

Rapper-turned-possible-presidential candidate Kanye West explained to Fortune why he plans to run (https://www.forbes.com/sites/randalllane/2020/07/08/kanye-west-says-hes-done-with-trump-opens-up-about-white-house-bid-damaging-biden-and-everything-in-between/#37cd337547aa), under the Birthday Party banner.

Chinese scientists have discovered what the gel-like substance is in on the dark side of the Moon (https://futurism.com/china-weird-substance-figured-out).

Need to Know starts early and is updated until the opening bell, but sign up here (http://www.marketwatch.com/user/newsletter) to get it delivered once to your email box. Be sure to check the Need to Know item. The emailed version will be sent out at about 7:30 a.m. Eastern.

-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 08, 2020 10:24 ET (14:24 GMT)

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