Emerging Penny Stocks on Wall Street (MGRX, LUMN, IDEX, NKLA)

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.

 

 

Disclaimer: Please ensure to fully read and comprehend our disclaimer found at https://investorbrandmedia.com/disclaimer/. A payment of $4,500 was received by InvestorBrandMedia.com from Bullyzeye Media LLC for content distribution on MGRX, from 06/12/2023 to 07/07/2023. InvestorBrandMedia.com is neither an investment advisor nor a registered broker. No current owner, employee, or independent contractor of InvestorBrandMedia.com is registered as a securities broker-dealer, broker, investment advisor, or IA representative with the U.S. Securities and Exchange Commission, any state securities regulatory authority, or any self-regulatory organization. This article may contain forward-looking statements as defined under Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. These statements, often incorporating terms like “believes,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” or similar expressions about future performance or conduct, are based on present expectations, estimates, and projections, and are not historical facts. They carry various risks and uncertainties that may result in significant deviation from the anticipated results or events. Past performance does not guarantee future results.InvestorBrandMedia.com does not commit to updating forward-looking statements based on new information or future events. Readers are encouraged to review all public SEC filings made by the profiled companies at https://www.sec.gov/edgar/searchedgar/companysearch. It is always important to conduct thorough due diligence and exercise caution in trading.InvestorBrandMedia.com is not managed by a licensed broker, a dealer, or a registered investment adviser. The content here is purely informational and should not be taken as investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor regarding forward-looking statements. Any statement that projects, foresees, expects, anticipates, estimates, believes, or understands certain actions to possibly occur are not historical facts and may be forward-looking statements. These statements are based on expectations, estimates, and projections that could cause actual results to differ greatly from those anticipated.Investing in micro-cap and growth securities is speculative and entails a high degree of risk, potentially leading to a total or substantial loss of investment. Please note that no content published here constitutes a recommendation to buy or sell a security. It is solely informational, and you should not construe it as legal, tax, investment, financial, or other advice. No content in this article constitutes an offer or solicitation by InvestorBrandMedia.com or any third-party service provider to buy or sell securities or other financial instruments. The content in this article does not address the circumstances of any specific individual or entity and does not constitute professional and/or financial advice. InvestorBrandMedia.com is not a fiduciary by virtue of any person’s use of or access to this content.

 

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