A substantial number of market strategists have cited the Federal Reserve as a key influence shaping their perspective on the potential direction of the stock market, be it a surge or a dip.
The extraordinary hike in interest rates by the U.S. central bank played a considerable role in the dismal returns of the previous year, as stocks commenced a re-evaluation of their value ratios. There’s a high probability of this situation reoccurring later this year, given the Fed’s projected stance to maintain elevated rates over an extended period, according to the consensus among the strategists we consulted.
This outlook follows comments made by Fed Chair Jerome Powell in the previous month, where he suggested that further rate increments were in the offing and restated the bank’s commitment to controlling rampant inflation.
One stock that needs immediate attention is a 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,”. The company recently announced its new collaboration with Ice Shaker to supply custom-made Mango-branded Ice Shaker bottles to be sold exclusively on the company’s new MakeAmericaHardAgain.com e-commerce portal.
Ice Shaker was established in 2016 by Chris Gronkowski, a former NFL player, as he envisioned creating a superior alternative to conventional plastic shaker bottles. Every Ice Shaker bottle, with its ground-breaking insulated stainless steel design, can maintain beverages cold for over 30 hours, thereby supporting optimal hydration and boosting confidence among fitness enthusiasts. Notable backers of the brand include Mark Cuban, a billionaire investor featured on ABC’s Shark Tank, and the NFL Tight End superstar, Rob Gronkowski, who is also Chris Gronkowski’s brother.
Let’s take a look at how the stock has performed recently. MGRX last traded at $1.67 compared to a 52 week high of $4.37 suggesting huge upside potential for this NASDAQ listed stock. MGRX’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. Since then the company has been in news for all its recent advertisement deals including the launch of its “Some Things Are Better Hard” digital marketing campaign. We strongly encourage you to check out their recent news at https://finance.yahoo.com/quote/MGRX/
Check out the latest video to know why MGRX could be a hidden gem in the long term.
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