According to the latest inflation report from the U.S. Bureau of Labor Statistics, the consumer price index experienced a 4% annual increase in May. This reading marks the lowest level observed in over two years. However, economists remain concerned as the "core CPI," which excludes the volatile prices of energy and food, has remained persistently high.The report highlights several categories that have seen notable annual increases, including shelter, motor vehicle insurance, recreation, household furnishings and operations, and new vehicles. On the other hand, certain categories such as airline fares, car and truck rentals, citrus fruits, fresh whole milk, and used cars and trucks have experienced deflation over the past year.
While S&P 500 and Nasdaq hit fresh 13-month highs, one stock that we would like to draw your attention to is Mangoceuticals, Inc. (NASDAQ:MGRX). 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. (NASDAQ: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.”
So what makes MGRX an attractive stock candidate for traders and investors ?
Video Link: https://www.youtube.com/embed/4KD2LfySM_Y
As per yahoo finance, MGRX has a 52 week range of $0.8600 - $4.3700. The stock is currently trading at $1.55 suggesting a solid upside potential for this Pharmaceutical company. Other pharmaceutical stocks to keep an eye on include Legend Biotech (NASDAQ:LEGN), Exact Sciences (NASDAQ:EXAS), Sarepta Therapeutics (NASDAQ:SRPT), Neurocrine Biosciences (NASDAQ:NBIX) and Karuna Therapeutics (NASDAQ:KRTX).
Another Wall Street darling that needs your attention is Tesla (TSLA). TSLA shares are set to continue their impressive winning streak, having achieved 13 consecutive days of gains. During this period, the stock has surged by 41%, further enhancing what has already been a prosperous year for Tesla shareholders. The upward trajectory of Tesla's stock aligns with today's overall market trend, which has been driven by favorable data indicating a decline in inflation. However, the upward momentum of Tesla shares has been building for a couple of weeks now. The most recent significant development occurred towards the end of the previous week when General Motors (GM) announced a partnership with Tesla to leverage the electric vehicle manufacturer's Supercharger Network. Under this collaboration, GM EV drivers will gain access to the Tesla Supercharger Network starting next year. Furthermore, GM anticipates incorporating Tesla's NACs connector into its EVs by 2025, enabling direct access to Tesla Superchargers. This announcement represents a noteworthy milestone in the ongoing advancements and cooperation within the electric vehicle industry. Other companies in Tesla’s space includes: XPeng (NYSE:XPEV), Fisker (NYSE:FSR), Ford Motor (NYSE:F), General Motors (NYSE:GM) and NWTN (NASDAQ:NWTN).
Finally, AMD is generating significant buzz on Wall Street with its latest announcement. The company revealed that its highly advanced artificial intelligence (AI) GPU, the MI300X, is scheduled to begin shipping to select customers later this year.This development from AMD poses a formidable challenge to Nvidia, the current leader in the AI chip market, holding over 80% of the market share as stated by analysts. AMD's entry into this domain signifies a major contender emerging to compete against Nvidia's dominance. This development is expected to intensify the competition within the AI chip market and could potentially reshape the landscape of the industry. Other companies in Advanced Micro Devices’s space includes: Broadcom (NASDAQ:AVGO), Lattice Semiconductor (NASDAQ:LSCC), Analog Devices (NASDAQ:ADI), Texas Instruments (NASDAQ:TXN) and STMicroelectronics (NYSE:STM).
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