Robert Haag, a director at Thumzup Media Corp (OTC:TZUP), recently purchased 2,000 shares of the company's common stock, valued at approximately $7,200. The transaction, which took place on November 19, 2024, was conducted at a price of $3.60 per share. Following this acquisition, Haag indirectly owns 283,199 shares through Westside Strategic Partners, LLC, where he holds voting control and investment discretion. Additionally, he directly owns 125 shares. This move reflects Haag's continued investment in Thumzup Media, a company specializing in computer processing and data preparation services.
In other recent news, Thumzup Media Corporation has announced significant developments. The company has secured gross proceeds of approximately $8.2 million through an additional public offering, facilitated by Dawson James Securities, Inc. This resulted in the sale of an additional 213,750 shares, bringing the total number of shares sold to 1,638,750.
In line with its growth strategy, Thumzup is planning an aggressive expansion into several key areas in Los Angeles, including Beverly Hills, the San Fernando Valley, West Los Angeles, Hollywood, Pasadena, and Glendale. This initiative is designed to strengthen partnerships with local businesses and empower gig economy workers.
Thumzup is also nearing the launch of its integration with Instagram Reels. The integration aims to tap into the platform's robust engagement rates and large user base, thus expanding users' potential to earn from social media posts. The company's platform facilitates cash payments to users for posting about advertisers' products and services. These recent developments align with Thumzup's mission to revolutionize the social media marketing industry.
InvestingPro Insights
Robert Haag's recent purchase of Thumzup Media Corp (OTC:TZUP) shares comes at a time when the company's stock has experienced significant volatility. According to InvestingPro data, TZUP has seen a 30.58% decline in the past week and a 43.08% drop over the last month. This context makes Haag's investment particularly noteworthy, as it may signal confidence in the company's long-term prospects despite recent market challenges.
InvestingPro Tips highlight that Thumzup Media Corp boasts impressive gross profit margins, which stood at 86.73% for the last twelve months as of Q3 2024. This strong profitability metric could be a factor in Haag's decision to increase his stake in the company. However, it's important to note that TZUP is currently not profitable over the last twelve months, indicating that the company may be in a growth phase or facing operational challenges.
The company's revenue growth is another point of interest, with a remarkable 112.55% increase over the last twelve months. This substantial growth rate suggests that Thumzup Media Corp is expanding its market presence rapidly, which could be an attractive feature for investors like Haag.
For readers interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for Thumzup Media Corp, providing a deeper understanding of the company's financial health and market position.
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