$MGRX Phallic Growth Among Small Cap StocksSmall cap stocks have been extremely hot lately and one of them is Mangoceuticals, Inc. (NASDAQ: MGRX) which has been gaining momentum due to a litany of sponsorship deals and its upcoming product launch. These moves reflect MGRX’s thorough understanding of marketing strategy because they precisely target its target audience while utilizing a growing underrated medium. Taking into account the significance of these sponsorships, MGRX’s revenues may increase drastically which might make MGRX stock one of the small cap stocks to watch especially since it is about to launch a sildenafil based product.
MGRX Fundamentals
Doubling Down On Podcasts
MGRX doubled down on its utilization of podcasts for marketing as it recently signed a partnership agreement with GaS Digital Network to promote MGRX’s products on multiple comedy podcasts. This move fits the company’s intricate yet playful persona by targeting its audience while introducing its product through the medium of comedy, which also thrives on discussing taboo subjects.
The terms of the agreement include that GaS Digital Network will generate 1 million unique impressions over the span of 2 months, which is significant since it has approximately 5 million listeners per month.
Viagra-ish
According to MGRX, its new Sildenafil based Mango flavored ED treatment will be available for purchase this summer. This product in and of itself could be considered a marketing ploy due to the fact that sildenafil is the active ingredient in Viagra. MGRX started trending online due to memes and social media commentary insinuating that its Cialis oriented treatment was a knockoff of Cialis.
That said, these digital transactions provide increased visibility and engagement. By utilizing Sildenafil, MGRX may be banking on duplicating this phenomenon in order to get additional engagements online. In this way, MGRX could see higher demand for its products – increasing its revenues.
Technical Analysis
MGRX stock is in a neutral trend and is trading in a sideways channel between $1.51, and $1.71. Looking at the indicators MGRX is trading above the 200, 50, and 21 MAs. Meanwhile, the RSI is neutral at 61 and the MACD is bullish.
As for the fundamentals, MGRX appears to be one of the small cap stocks poised to soar thanks to its groundbreaking sponsorships and its Sildenafil oriented ED product. With the company pursuing additional sponsorship deals, MGRX could soar if a new deal is announced.
MGRX Forecast
As things stand, MGRX may be the most prolific ED marketer to date as every move it makes seems optimized to increase its visibility. With a new product expected to be released this summer, MGRX could be on track to grow its revenues significantly this year. Given the company’s potential to secure additional sponsorship deals, MGRX stock is shaping to be one of the most interesting small cap stocks to watch this summer.
