Robinhood announced its entry into Canada after closing the $250M WonderFi acquisition - which gives the broker 300K users, over $2B in client assets…

… and an Investment Dealer license that paves the way for future expansion into traditional brokerage services.

Without the potential for platform growth, the transaction would be a head scratcher…

… but even with it, Robinhood should have its hands full - with both Questrade and Wealthsimple showing impressive growth in client assets…

… and the latter closing a $750M round to keep the momentum going. That’s benefitted names like Power Corp. and IGM Financial, who’ve seen big upward marks in their Wealthsimple stake…

… which has translated to multiple expansion in the public equity.