Thumzup Media Corporation announced that its board of directors authorized a share repurchase program of up to $1 million of the company's common stock. This authorization demonstrates Thumzup's commitment to enhancing shareholder value.
The stock buybacks will be executed at management's discretion, considering market conditions and other pertinent factors. CEO Robert Steele stated that the program reflects confidence in Thumzup's growth trajectory and the opportunity to deploy capital strategically.
This initiative follows the company's $8.2 million public offering in October 2024 and insider purchases of approximately $62,000 in common stock in December 2024. The platform recently surpassed 700 advertisers, indicating operational momentum.
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