The Federal Reserve held rates steady in June, keeping the benchmark funds rate at a range of 5% to 5.25%. However, the central bank’s dot plot indicated that two more hikes are ahead. At his press conference, Fed Chair Jerome Powell said that the central bank will consider the “cumulative” impact of rate increases at its future meetings. The Fed hasn’t yet made a decision on July’s policy move, he said.

On Wednesday, the Federal Reserve decided to halt what could have been an 11th successive interest rate rise, as it assesses the implications of the previous ten increases. This decision was taken during the two-day meeting of the Federal Open Market Committee (FOMC).Despite this pause, the FOMC projected two more hikes, each by a quarter percentage point, before the year’s end. This forecast of further rate escalations triggered a swift reaction in the stock market, initially applying downward pressure. However, optimistic discussions surrounding the combat against inflation provided a temporary boost, allowing stocks to rebound slightly.

 

 

MGRX is a company focused on developing, marketing and selling a variety of men’s health and wellness products via a secure telemedicine platform, including its uniquely formulated drug branded “Mango,”.Mangoceuticals, Inc. MGRX Company’s Co-Founder and CEO, Jacob Cohen, along with the MangoRx family, including Company officials and members of the executive management team, rang the Nasdaq Closing Bell on Thursday, May 18, 2023.

 

Recently, MGRX announced that it has been engaged as a new sponsor for Barstool Sports’ “Only Stans” podcast (barstoolsports.com/shows/39956939/only-stans). “We couldn’t be more excited to have the opportunity to sponsor the hugely popular Only Stans podcast,” stated MGRX Co-Founder and CEO, Jacob Cohen. “It isn’t easy to find, land, and execute a sponsorship this on-target from a branding perspective. This is a wildly popular podcast with a massive audience that resonates especially well with our target market. And we are thrilled to have access to that audience to help them truly appreciate our product benefits.”

 

Since our initial coverage, MGRX is up over 7% and counting. MGRX is currently trading at $1.66. Considering the public offering was priced at $4 per share there could be a  huge upside potential for this NASDAQ listed pharmaceutical stock. Watch the video below to know more about MGRX. 

 

Video Link: https://www.youtube.com/embed/–TjfGycZzk

 

In Wednesday’s trading session a collection of promising penny stocks have made significant strides. Telecommunications firm, Lumen Technologies, Inc. (LUMN), saw a rise of 7.04% to $2.28 as of 3:45 PM EDT Wednesday, with a substantial trading volume of 30.67M against a 27.22M float, boasting a market cap of $2.29B. Meanwhile, the auto industry player, Nikola Corporation (NKLA), experienced a robust growth of 19.78% to $1.0948, supported by a remarkable trading volume of 113.60M and a market cap of $784.74M. On the electric vehicle front, Faraday Future Intelligent Electric Inc. (FFIE) rose by 4.39% to $0.3445, exhibiting a trading volume of 56.73M and a market cap of $440.90M.In the real estate sector, WeWork Inc. (WE) enjoyed an 8.32% surge, trading at $0.2121 with a trading volume of 30.19M and a market cap of $168.13M. Furthermore, fintech and EV solutions provider Ideanomics, Inc. (IDEX) saw its price increase by 14.43% to $0.1055, with an impressive trading volume of 362.12M and a market cap of $85.24M.Particularly striking was the performance of Blue Water Biotech, Inc. (BWV), which skyrocketed by 67.09% to $1.32, making it the star performer for the day with a $21.00M market cap. Lastly, Greenidge Generation Holdings Inc. (GREE) soared by 51.57% to $2.41, presenting a robust trading volume of 25.93M and a market cap of $14.41M. These movements provide a diverse range of opportunities for savvy penny stock investors.

 

 

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Source: https://finance.yahoo.com/news/mangoceuticals-signs-deal-barstool-sports-130000850.html