Robert Haag, a director at Thumzup Media Corp (OTC:TZUP), recently acquired 1,111 shares of the company's common stock. The shares were purchased at a price of $4.06 each, totaling approximately $4,510. Post-transaction, Haag holds 290,310 shares indirectly through Westside Strategic Partners, LLC, where he exercises voting control and investment discretion. Additionally, Haag directly owns 125 shares of Thumzup Media.
In other recent news, Thumzup Media Corporation has reported significant growth in its advertiser base, marking a 202% increase from 183 to 554 advertisers. In line with this, the company has announced plans for expansion into key Los Angeles areas, leveraging the momentum from its recent Nasdaq listing and a successful $8.2 million underwritten offering. On the technology front, Thumzup is finalizing the development of video capabilities for its proprietary ad tech platform, enabling integration with Instagram Reels.
The company's recent public offering, facilitated by Dawson James Securities, Inc., resulted in the sale of an additional 213,750 shares, bringing the total number of shares sold to 1,638,750. This offering secured gross proceeds of approximately $8.2 million, providing Thumzup with the necessary resources to accelerate growth across Los Angeles and Southern California.
These developments highlight Thumzup's ambitious plans for growth and its potential impact on the advertising industry. However, it is important to note that these forward-looking statements are subject to the usual risks and uncertainties associated with such declarations.
InvestingPro Insights
Following Robert Haag's recent share acquisition in Thumzup Media Corp (OTC:TZUP), it's worth examining some key financial metrics and insights provided by InvestingPro to gain a more comprehensive view of the company's current standing.
According to InvestingPro data, Thumzup Media Corp has a market capitalization of $37.09 million USD, positioning it as a niche player in its industry. The company's stock has experienced significant volatility recently, with a 40.15% decline in the past month and a 26.17% drop over the last three months. This recent downturn aligns with an InvestingPro Tip noting that the stock "has fared poorly over the last month."
Despite the recent stock performance, Thumzup Media Corp boasts impressive gross profit margins, as highlighted by another InvestingPro Tip. The company's gross profit margin stands at 86.73% for the last twelve months as of Q3 2024, indicating strong pricing power or efficient cost management in its core operations.
However, investors should be aware that the company is currently not profitable over the last twelve months, as pointed out by an additional InvestingPro Tip. This is reflected in the negative adjusted P/E ratio of -35.16 and the operating income margin of -792,281.99% for the same period.
For those interested in a more comprehensive analysis, InvestingPro offers 7 additional tips for Thumzup Media Corp, providing a deeper understanding of the company's financial health and market position.
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