As of Dec. 31, Ault owned a total of 71.96 million shares of Mullen Automotive (NASDAQ:MULN) stock, equivalent to a 4.07% ownership stake.
This puts Ault Alliance as the largest stockholder of the company, according to Whale Wisdom.
Ault last reported a stake of 2.41 million shares.
Bollinger CEO Robert Bollinger comes in second place with ownership of 51.07 million shares as of Q3.
MULN shares have dropped in February, but bullish sentiment remains strong with both retail and institutional investors.
Share prices surged to $0.44 in January only to come back down and bounce from $0.28.
The stock recently retested the $0.44 again in February but rejected the level.
Today we’re going to go over the latest developments and updates on Mullen Automotive.
Let’s get started!
Ault Alliance is Bullish on MULN Stock
Ault’s bullish stance on Mullen Automotive stock shows how much conviction the company has this early in the EV company.
Mullen Automotive has been making fundamental progress as it makes its first I-GO deliveries in Ireland and teams up with Menzies Aviation to supply the company with its Class 1 EV cargo vans.
In December, the company received a $200 million purchase order for 6,000 EVs from Randy Marion Group.
Vanguard tallies in as the third-largest stockholder with a 45.67 million share stake.
The exchange-traded fund (ETF) provider reported adding 23.07 million shares during Q4.
BlackRock is also a major stockholder with ownership of 26.42 million shares.
BlackRock acquired 137,059 shares during Q4.
We can see that these institutions are going big on MULN stock, which is very significant for shareholders betting on the company stock to squeeze.
Analysts are giving Mullen Automotive shares a price target high of $24.15 this year.
Despite Mullen’s current share price, there seems to be a lot of confidence in the company today.
Falling share prices could signal a steal for new investors planning to open a position in the company.
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About The Author
David must be the biggest shareholder. Only in performance awards he made over 100 mill shares last year, and sold around 35 mill shares.
I missed the disclaimer that lets everyone know how much you were paid for this fluff.
Your comment has absolutely no value.
What are your thoughts on big buying coming in for Mullen Automotive stock?