Mangoceuticals stock extends pullback from previous session's intraday high
Shares of Mangoceuticals Inc. (MGRX) fell 6.7% in premarket trading, to extend their sharp pullback from the previous session's intraday high. The stock had rocketed as much as 60.8% to an intraday high of $2.38 soon after Thursday's open, but closed up just 10.8%, after the erectile dysfunction (ED) drug maker announced a sponsorship deal with Barstool Sports. Trading volume had spiked to 44.9 million shares on Thursday, compared with the full-day average before the rally of about 376,500 shares. The stock, which has had volume of 93,200 shares before Friday's open, was on track to open about 36% below Thursday's intraday high. The percent of the stock's public float, or number of shares available for trading, that have been shorted (bearish bets) is 2.6%. The stock went public on March 21.
-Steve Gelsi
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June 09, 2023 08:18 ET (12:18 GMT)
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