Robert Haag, a director at Thumzup Media Corp (NASDAQ:TZUP), recently acquired 2,000 shares of the company's common stock, valued at approximately $8,400. The transaction took place on November 25, 2024, at a price of $4.20 per share. Following this purchase, Haag's indirect ownership, managed through Westside Strategic Partners, LLC, stands at 289,199 shares. Additionally, Haag holds 125 shares directly. This acquisition reflects Haag's continued investment in Thumzup Media, a company engaged in computer processing and data preparation services.
In other recent news, Thumzup Media Corporation reported a 202% growth in its advertiser base this year, expanding from 183 to 554 advertisers. The company also announced plans to expand into key Los Angeles areas, leveraging funds from its recent Nasdaq listing and a successful $8.2 million underwritten offering. Thumzup's platform incentivizes social media users to become brand ambassadors by paying them for posts, reflecting a shift in digital advertising strategies.
Thumzup is also nearing the launch of its integration with Instagram Reels, aiming to tap into the platform's robust engagement rates. The company recently concluded an additional public offering, facilitated by Dawson James Securities, Inc., securing gross proceeds of approximately $8.2 million. This resulted in the sale of an additional 213,750 shares at $5.00 per share, bringing the total number of shares sold in the offering to 1,638,750.
These recent developments align with Thumzup's mission to revolutionize the social media marketing industry. The company's platform, available for download on both the App Store and Google (NASDAQ:GOOGL) Play, allows users to earn cash for posting about advertisers' products and services.
InvestingPro Insights
Robert Haag's recent purchase of Thumzup Media Corp (NASDAQ:TZUP) shares aligns with some intriguing trends revealed by InvestingPro data. The company has shown impressive revenue growth, with a 112.55% increase over the last twelve months as of Q3 2024. This growth is particularly noteworthy given Thumzup's status as a niche player in its industry, as highlighted by one of the InvestingPro Tips.
Despite the recent insider purchase and strong revenue growth, investors should be aware that TZUP's stock has experienced a significant decline, falling 38.48% over the past month. This volatility is reflected in the company's current market capitalization of $38.12 million.
An InvestingPro Tip points out that Thumzup boasts impressive gross profit margins, which is supported by the data showing a gross profit margin of 86.73% for the last twelve months. This strong margin could be a factor in Haag's decision to increase his stake in the company.
It's worth noting that InvestingPro offers 12 additional tips for TZUP, providing a more comprehensive analysis for investors considering this stock. These insights can be particularly valuable given the company's recent performance and insider activity.
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