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Aleksandar Milovanovic, a member of a 10% reporting group, recently acquired a significant amount of common stock in Golden Matrix Group, Inc. (NASDAQ:GMGI). According to a recent SEC filing, Milovanovic purchased 146,080 shares at prices ranging from $1.90 to $1.95 per share, totaling approximately $284,856. The stock has since rallied, showing an 8.47% gain over the past week to trade at $2.06. This acquisition increases his direct ownership to 84,608,663 shares, excluding shares related to a voting group agreement. The purchase highlights a notable transaction in the $271 million market cap company’s stock, reflecting continued interest and investment from significant stakeholders. Analysts maintain a bullish outlook with a $4 price target, suggesting significant upside potential. InvestingPro subscribers can access detailed insider trading analysis and 7 additional key insights about GMGI’s financial health and valuation metrics.
In other recent news, Golden Matrix Group Inc. reported a substantial 63% increase in revenue for Q4 2024, reaching $151 million, although the company experienced a net loss of $1.5 million. The company also projects Q1 2025 revenue growth of 69-81% year-over-year, indicating optimism about future performance. Additionally, Golden Matrix announced a significant financial maneuver with the founders of its subsidiary, Meridianbet, converting approximately $9.57 million of acquisition-related debt into equity. This move is expected to enhance Golden Matrix’s financial flexibility and net debt leverage.
The company’s strategic focus on AI technology and market expansion has been highlighted by the launch of new AI-driven products aimed at enhancing user engagement. Notably, Golden Matrix’s recent acquisitions and technological upgrades have expanded its market presence. Meridianbet, a key subsidiary, reported a 14% increase in total revenue for 2024, underscoring its strong performance in both online and retail gaming sectors. These developments reflect Golden Matrix’s ongoing efforts to leverage technology and strategic acquisitions to drive growth and shareholder value.
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