A Recent IPO With Several Big Runs

Let me walk you through what I’ve found and see if you agree... [Image] As traders, we care about just one thing - a stock’s potential. No one cares about stock promotions unless they drive price action, plain and simple. Here’s the good news, Mangoceuticals Inc (NASDAQ: MGRX) might just be the next multi-day runner to put on your radar. The stock’s a recent IPO that’s only been trading a few months. But in that time, I’ve seen it spike multiple times. And recently, it’s made an interesting technical pattern that could be building energy for a push higher. Let me walk you through what I’ve found and see if you agree. Mangoceuticals Inc (NASDAQ: MGRX) 1-month trading range: $0.99 - $2.38 Typical average daily volume: ~100,000 Float: 6.3 million Mangoceuticals’ Business When men have trouble getting it up in the bedroom, the first thing that comes to mind generally isn’t mangos. But maybe it should be… Mangoceuticals develops, markets, and sells men’s health and wellness products and services (AKA erection helpers) through its secure telemedicine platform. The YouTube video the company put out is pretty funny and worth a look: [uhjkMECW-UYgXqmAlnnWFXp0pxVLo6IRAVv52KXAy-s3H2bqKdrjOQ16NPUU9CZQjde6wjYAyyWgOZFjxxURubxWgpbtCGXDA9f6YxGqia-l104c9x_prCOKoZXzC3YV_ohjUQk4kamSqTM9on-vuQ] [Check it out here]( In case you didn’t get the joke, Mango = Man + Go Yes, the company promotes itself as a drug for the ‘bros’ using humor and marketing agreements with Barstool Sports’ “Only Stans” podcast. Does the drug actually work? It contains a blend of Tadalafil (same active ingredient in Cialis), Oxytocin (which is what your dog releases when you scratch its butt), and L-Arginine. Mango is available via prescription after an online telehealth visit and is a rapidly dissolved tablet intended to be taken 15 minutes before sexual activity. You need a prescription from a doctor to get the drug. [cujMJAsmlFPyN4cm0VXK4O21dHQYR6wrCOY2-JChH8mYp_NiwGzTSeJO0bW4aQBdIJl9OYXuWuR5UR011cwlEUajiFK1ErFddeuQ6Yy7MNLNbJYPfxOOeP5nFWShZXp2zcgA06bmHghiCU1w4exbEQ] So, we’ll give that a hard, maybe (pun intended). Its key selling points, beyond the slick marketing, include: - 15-minute rapidly dissolved tablets - Tadalafil can last up to 36 hours - Prescriptions are available through telehealth The company’s IPO netted them $5 million which they plan to use to finance marketing and operational expenses related to their planned launch of their flagship product. On April 23, the company commenced online direct sales utilizing DataDojo’s customer data platform, which includes…you guessed it…AI-powered deep learning for customer identification, segmentation, and optimization. Financials Who needs financials when you’re a brand new company? Seriously though, the company just started selling its drug, so it obviously hasn’t reported any revenues yet. But they did incur almost $2 million in operational expenses during 2022, or about $1.35 million in cash burn. The $260k in debt on their books isn’t all that significant either. Net, they’ve got a little less than $4 million to get their drug into the hands of customers. Promoter Activity We only came across one promoter hawking the stock for a one-day campaign, receiving $15,000 in compensation. The promoter did a decent job of explaining the company along with its recent marketing agreement with Barstool Sports. Additionally, they highlighted the following events: - 2 months ago: - Amanda Hammer was appointed as the new COO of MangoRx. - Online sales commenced with DojoLabs Group, Inc. using their proprietary Customer Data Platform (CDP). - Started participating on the new Webull Corporate Communication services platform. - YouTube commercial surpassed over 5 million views. - May 11: MangoRx launched the “Some Things Are Better Hard” digital marketing campaign. - May 18: MangoRx rang the NASDAQ Stock Market closing bell. - May 25: Aaron Andrew was added to MangoRx's advisory board. - June 8: MangoRx signed a marketing deal with Barstool Sports to promote Mango on the "Only Stans" podcast. - June 15: MangoRx increased its marketing and corporate visibility by participating in well-known podcasts in Dallas, Texas. We’ll forgive the somewhat weak attribution to simply ‘two months ago.’ Given the limited news releases, the promoter did a decent job of highlighting what it could. Additionally, they showed a chart yet didn’t highlight the pattern, that I found quite interesting. [tekn3OS72XL0dcvb4u4TW3XWOJkmhu_oIhR2aCLJhtyrtLbCo0dHwQinE4y45ZT2wvNZNHGeW_CxBG5aY7ENDPiw_CuKmcelglk1CPuoV0fFr7fvAqeetMmvO0BKX0aiqxHxn1QOCEcrZAw9VJTRWw] Source: TradingView The recent price action pushed shares from around $1.00 to almost $2.40 before paring gains to ~$1.60. But the stock has held that level rather than fade. While it’s not the greatest bullish pattern out there, it does signify buyers supporting the stock. Straight to the Facts If you look at the chart, you’ll notice the stock also had a sweet pop back in late April. With a tiny float, and typical volume below 100K daily, it won’t take much to squeeze this stock over the recent $2.40 highs. If that happens, it could easily shoot for the prior high at $3.20. Given the recent surge in micro-cap stocks, this is one I’ll have high on my list for the next few months. Baron Von Stocks Red Oak Media Group, 7940 Ann Arbor St Dexter MI USA 48130 To update contact information or unsubscribe from this list, please [click here](