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MGRX Stock: What Is Going on With Mangoceuticals Today?


  • Mangoceuticals (MGRX) stock is surging in today’s session.
  • The men’s health and wellness company is up more than 175% on little news.
  • However, the company’s push onto Webull could be inciting retail speculators to bet big on shares.
a doctor looks at a tablet
Source: Shutterstock

Big moves can be seen on a daily basis in the small-cap space. However, the impressive 175% move in Mangoceuticals (NASDAQ:MGRX) stock certainly has investors scratching their heads right now. Today’s surge in MGRX stock comes alongside very impressive trading volume, with more than 90 million shares traded versus an average of less than 290,000 daily.

This men’s health and wellness company appears to be trading on a few catalysts from recent days, but nothing specifically today.

Earlier this week, Mangoceuticals reported that its debut commercial crossed the 5 million view mark on YouTube. This ad, for the company’s premier “Mango” erectile dysfunction (ED) drug, appears to be garnering significant interest. In particular, the company’s focus on eliminating the fear associated with discussing ED appears to have caught the ear of consumers.

On top of that, the company announced yesterday that it will be “participating on the new Webull Corporate Communication services platform.” Webull is a trading platform aimed at younger retail investors. Accordingly, for those hoping for some sort of a short squeeze, this is the kind of news that’s music to the ears.

What’s Going on With MGRX Stock Today?

In the grand scheme of things, these two announcements shouldn’t add up to much. However, MGRX stock is easily categorized as a penny stock. Some amount of volatility can always be expected with such small-cap, low float stocks.

Accordingly, the best explanation for today’s move with Mangoceuticals appears to be tied to yesterday’s announcement that the company will be participating on the Webull platform. If enough speculators band together, we’ve seen the possibility for such moves. And given the company’s low float and perfect dynamics for short-term swings, we’re getting what many may have expected to see.

We’ll see if this move can be maintained. After all, there are some fundamental catalysts tied to the company’s marketing efforts. But as we’ve seen with so many momentum-driven moves in various meme stocks, what goes up often comes down — and fast. Personally, MGRX stock is too speculative for my blood right now.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/mgrx-stock-what-is-going-on-with-mangoceuticals-today/.

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