After the announcement of a sponsorship agreement with Barstool Sports, shares of Mangoceuticals Inc. , MGRX, +0.81% soared as high as 60.8% intraday before paring their gains to 15.2% during a very active afternoon. The trading volume soared to 43.4 millions shares, compared with the average daily volume of 376,500 over the last 30 days. The company announced that its “Mango ED” drug has become a sponsor of Barstools’ podcast “Only Stans”. Jacob Cohen, Chief Executive Officer of Mangoceuticals, said that the podcast is extremely popular and has a large audience. This resonates well with Mangoceuticals’ target market. The company went public on 21 March. It develops and markets men’s wellness and health products through its telemedicine platform. In its initial public offering the company raised $5,000,000 by selling 1.25 million shares for $4.00 each. Stock closed at $4.00 on that day and has not closed higher since.