Mangoceuticals (MGRX) Stock Jumps 138% After Hours On Nuclear Reactor Deal: Here's Why It Is Trending

Mangoceuticals, Inc. (NASDAQ:MGRX) shares are trending on Thursday night.

Shares of the public health and wellness company jumped 137.77% to $0.70 in after-hours trading on Thursday following the announcement of a definitive business combination with Nuclea Energy Inc., a developer of the Morpheus lead-cooled microreactor.

Deal Terms Include Nasdaq Ownership Cap

Under the agreement, a Mangoceuticals subsidiary will amalgamate with Nuclea, which will continue as an indirect wholly owned subsidiary. Nuclea shareholders will receive exchangeable shares convertible one-for-one into Mangoceuticals common stock, capped at 19.99% of outstanding shares until stockholder and Nasdaq approvals are obtained.

CEO Jacob Cohen said, “advanced nuclear and microreactors will be a critical part of how that demand is met.”

Joseph Gunnar & Co. advised on the transaction.

What Investors Should Know

The announcement was made by Mangoceuticals before the market opened on Thursday.

The stock experienced an exceptionally elevated trading session on Thursday. Volume reached 80.54 million shares, more than 43.54 times the stock’s average daily volume of 1.85 million shares.

Short interest of MGRX stands at 2.5%.

Trading Metrics, Technical Analysis

Mangoceuticals has a market capitalization of $5.07 million and 17.17 million shares outstanding. The stock has traded between a 52-week high of $2.75 and a 52-week low of $0.16.

The Relative Strength Index (RSI) of MGRX stands at 36.74.

The small-cap stock has dropped 82.52% over the past 12 months.

Currently, MGRX is positioned close to its annual low.

MGRX’s long-term trend and weak market position suggest downside risks may persist.

Price Action: The Texas-based company closed the regular session on Thursday at $0.29, down 46.88%, according to Benzinga Pro data.

Benzinga’s Edge Stock Rankings indicate that MGRX is experiencing long-term consolidation along with medium and short-term upward movement.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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