Shares of Mangoceuticals shot up after the seller of men’s health products said it has signed a sponsorship deal with Barstool Sports.
The stock was up more than 48% at $2.20 in early trading. Shares debuted in March after an initial public offering priced at $4 a share.
Mangoceuticals sells men’s health and wellness products, most prominently its erectile dysfunction drug “Mango.”
The company said before the bell on Thursday that it has signed a deal with Barstool’s “Only Stans” podcast, which boasts an average of more than 320,000 listeners per episode.
Mangoceuticals said it will sponsor at least eight episodes over the next two months and may see more brand involvement down the line.
Chief Executive Jacob Cohen said the podcast appeals to Mangoceuticals’ “sexually active target audience.”
“We are aligning ourselves with BarStool Sports, which is a nationally recognized brand that has a rock-solid track record in terms of appealing to a male audience and has a massive market footprint and overall audience size,” he said.