Federal Reserve Chairman Jerome Powell talked tough on inflation Wednesday, saying at a forum that he expects multiple interest rate increases ahead and possibly at an aggressive pace. “We believe there’s more restriction coming,” Powell said during a monetary policy session in Sintra, Portugal. “What’s really driving it ... is a very strong labor market.” The comments reiterate a position taken by Powell’s fellow policymakers at their June meeting, during which they indicated the likelihood of another half percentage point of increases through the end of 2023.
The Nasdaq Composite dipped in and out of positive territory in Wednesday’s session as it tried to build on Tuesday’s momentum. Before we get into some of the noteworthy stocks on Wall Street, we would like to draw your attention to 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. 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.
MGRX is currently trading at $1.78 at the time of writing this article. Considering the public offering was priced at $4 per share there could be a huge upside potential for this NASDAQ listed pharmaceutical stock.
Recently, MGRX announced the launch of its new “Make America Hard Again” nationwide marketing campaign and website, www.MakeAmericaHardAgain.com. The newly launched Make America Hard Again web presence will be optimized for lead traffic generation and will be dedicated to driving revenue through the sale of Make America Hard Again and MangoRx related merchandise, with the optimum goal of creating awareness around the MangoRx brand and driving web traffic toward www.MangoRx.com.
Since going public, MGRX seems to be going all out on its marketing efforts to increase its brand and product awareness. 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.”
Watch the video below to know more about MGRX
Video Link: https://www.youtube.com/embed/--TjfGycZzk
Coming back to some of the most active stocks on Wall Street. Tesla, Inc. (TSLA) experienced a positive gain of $6.15, resulting in a 2.46% increase, with a market volume of 115.3 million shares and a market cap of $812.15 billion. Carnival Corporation & plc (CCL) saw a notable surge as well, with a $1.27 increase, equating to a remarkable 7.99% rise. While specific volume information is not available, its market cap stands at $22.35 billion. Advanced Micro Devices, Inc. (AMD), on the other hand, experienced a slight decrease of $0.32, representing a 0.29% dip, with a volume of 49.08 million shares and a market cap of $177.24 billion. Lucid Group, Inc. (LCID) also demonstrated positive momentum, with a $0.40 increase, equaling a 6.49% rise. The stock traded 48.33 million shares, and the company currently holds a market cap of $13.05 billion. Lastly, Palantir Technologies Inc. (PLTR) recorded a $0.43 increase, translating to a 2.91% gain. The stock traded 45.81 million shares, and the company's market cap stands at $31.85 billion.
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