LOS ANGELES—Robert L. Haag, a director at Thumzup Media Corp (OTC:TZUP), recently acquired 2,000 shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The shares were purchased at a price of $4.60 each, totaling $9,200.
The acquisition increases Haag's indirect ownership through Westside Strategic Partners, LLC, to 287,199 shares. Haag, who holds voting control and investment discretion over the securities held by Westside, is considered the beneficial owner of these shares.
Thumzup Media, based in Los Angeles, operates in the computer processing and data preparation services sector.
In other recent news, Thumzup Media Corporation has reported a remarkable 202% growth in its advertiser base, expanding from 183 to 554 advertisers. This development underscores the appeal of Thumzup's platform, which incentivizes social media users to become brand ambassadors by rewarding them for their posts. In addition, the company has announced plans to expand into key Los Angeles areas, a strategic move aimed at growing its presence in the region.
Thumzup has recently completed an additional public offering, facilitated by Dawson James Securities, Inc., which resulted in the sale of an additional 213,750 shares, bringing the total number of shares sold in the offering to 1,638,750. This has secured gross proceeds of approximately $8.2 million.
Another significant development for Thumzup is the upcoming launch of its integration with Instagram Reels. This new feature aims to tap into Instagram Reels' robust engagement rates, which are reported to be 22% higher than standard video posts, and could potentially lead to more in-video purchases. These recent developments align with Thumzup's mission to revolutionize the social media marketing industry.
InvestingPro Insights
Robert L. Haag's recent acquisition of Thumzup Media Corp (OTC:TZUP) shares comes at an interesting time for the company. According to InvestingPro data, TZUP has seen a significant return of 19.19% over the last week, despite facing a 33.18% decline in the past month. This volatility aligns with the director's decision to increase his stake in the company.
InvestingPro Tips highlight that Thumzup operates with 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 investment decision, suggesting confidence in the company's operational efficiency.
However, it's worth noting that Thumzup is currently not profitable over the last twelve months, with an operating income of -$1.67 million. The company is trading at a high Price / Book multiple of 220.5, indicating that investors are placing a premium on the company's future growth prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Thumzup Media Corp, providing deeper insights into the company's financial health and market position.
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