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Keith W. Smith, President of Direct Digital Holdings , Inc. (NASDAQ:DRCT), recently sold a total of 34,558 shares of Class A Common Stock, amounting to approximately $27,654. The sales occurred over three consecutive days, from March 12 to March 14, 2025. The transaction comes as the company’s stock has declined nearly 98% over the past year, with the current market capitalization standing at just $3.4 million. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
The shares were sold at prices ranging from $0.77 to $0.83 per share. These transactions were executed as part of a previously established 10b5-1 trading plan, which Smith entered into on December 12, 2024. Following these transactions, Smith retains ownership of 96,164 shares indirectly through SKW Financial LLC.
The sales are part of routine financial management strategies and are conducted under a pre-established plan, ensuring compliance with regulatory requirements.
In other recent news, Direct Digital Holdings has been granted an extension by The Nasdaq Stock Market to meet the minimum stockholders’ equity requirement, with a new deadline set for March 31, 2025. This extension follows a compliance plan review by the Nasdaq Listing Qualifications Department. Additionally, Direct Digital Holdings has sold 389,351 shares of its Class A Common Stock, raising $503,394 in cash. These sales were made to New Circle Principle Investments LLC under an Equity Reserve Facility, as disclosed in a recent SEC filing.
Moreover, Direct Digital Holdings has announced the creation of Teranexa, a joint venture with Green Tea Technology, aimed at providing AI platforms to enhance city operations and services. This venture, described as a Smart City as a Service AI solution, seeks to unify infrastructure costs and address urban challenges. In another development, the company released a guide titled "Practical Generative AI Use Cases & Tools for Agencies," focusing on integrating AI into advertising agency operations.
Furthermore, Direct Digital Holdings introduced a "Framework for Employee Generative AI Usage Policy" to guide responsible AI use in workplaces. This framework aims to mitigate risks such as data breaches while promoting productivity and efficiency. These initiatives reflect Direct Digital Holdings’ ongoing efforts to innovate and adapt in the rapidly evolving digital landscape.
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