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Aleksandar Milovanovic, a member of a 10% reporting group, recently acquired shares of Golden Matrix Group, Inc. (NASDAQ:GMGI), a company currently valued at $267 million. According to a Form 4 filing, Milovanovic purchased a total of 6,000 shares of common stock over two days, February 20 and 21, 2025. The purchases were made at prices ranging from $2.16 to $2.17 per share, amounting to a total investment of $12,980. The stock currently trades at $2.15, near its 52-week low of $1.70, while InvestingPro analysis indicates the company is slightly overvalued at current levels. Following these transactions, Milovanovic owns 78,525,516 shares directly.
The transactions were part of a larger voting agreement involving other significant shareholders, including the company’s CEO, Anthony Brian Goodman. Despite being part of this agreement, Milovanovic disclaims any beneficial ownership of securities held by other parties to the agreement.
In other recent news, Golden Matrix Group Inc reported significant financial results for Q4 2024, with revenue growing by 63% year-over-year to $151 million. Despite the strong revenue performance, the company recorded a net loss of $1.5 million. The company has projected Q1 2025 revenue growth between 69% and 81% year-over-year, estimating revenues of $42 million to $45 million. Golden Matrix has been expanding its market presence through acquisitions and technology upgrades, including the strategic acquisition of Meridian Bets and Classics for a Cause. The company has also focused on AI-driven product enhancements to boost user engagement. Analysts have noted that Golden Matrix is well-positioned in the global gaming market, with a focus on innovation and strategic market expansion. The company’s strategic priorities include market expansion, AI-driven personalization, and product portfolio enhancement.
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