Shares of Mangoceuticals fell nearly 10% on Thursday, the second straight day of big losses for the men’s wellness company after it went public on Tuesday.
Shares of the Dallas-based company debuted at $4.20 Tuesday morning but had fallen to $3.05 by Wednesday’s closing bell.
By Thursday afternoon, shares were down another 9.2% to $2.77.
Mangoceuticals caught the attention of investors for the development of a fast-dissolving erectile dysfunction pill containing the same active ingredient found in the drug Cialis.
One selling point was Mangoceuticals’ plan to market the product directly to consumers via a telehealth platform on its website.
The company underwent a $5 million IPO offering 1.25 million shares at $4 per share.
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