Big Short Sellers Own Majority of MULN Stock

Market News | Mullen Automotive Stock News: Big short sellers own a big stake of MULN stock.

Mullen Automotive (NASDAQ:MULN) is owned by Wall Street’s biggest short sellers.

How will the company fare against predatorial short selling?

Shares of the automaker fell throughout February after the company’s stock rose and consolidated in January.

Signs have led retail investors to believe that Mullen Automotive has become a target to naked short selling; an illegal practice of short selling shares that have not been affirmatively determined to exist.

Momentum began to build in early January as volume in the stock increased heavily.

One case study showed that 7 analysts predicted Mullen Automotive shares to rise by more than 7,000% this year.

MULN stock, according to analysts, is expected to reach between $23-$24 in 2023.

But despite strong news propelling the company forward, Mullen’s shares have continued to tank.

The stock is currently down -33% this year-to-date and more than -47% in the past trading month.

Who are Mullen Automotive’s Biggest Shareholders?

According to CNN Business, the Top 10 Owners of Mullen Automotive Inc., are:

  1. The Vanguard Group — 2.71% stake, 45 million shares
  2. BlackRock Fund Advisors — 1.52% stake, 25.5 million shares
  3. Geode Capital Management LLC — 0.39% stake, 6.5 million shares
  4. SSGA Funds Management, Inc. — 0.32% stake, 5.2 million shares
  5. Susquehanna Financial Group LLLP — 0.28% stake, 4.7 million shares
  6. Citadel Securities LLC — 0.20% stake, 3.3 million shares
  7. Northern Trust Investments LLC — 0.18% stake, 2.9 million shares
  8. The Bank of New York Mellon Corp. — 0.17% stake, 2.7 million shares
  9. Evolve Funds Group, Inc. — 0.13% stake, 2.1 million shares
  10. Morgan Stanley & Co. LLC — 0.07% stake, 1.1 million shares

Notably, Citadel Securities LLC and Susquehanna Financial Group are two of the biggest short sellers that own MULN stock.

Retail investors believe Vanguard and BlackRock lend out their shares for institutions to short Mullen Automotive.

Coincidentally, shares have dropped as more and more institutions have taken ownership of the company.

MULN institutional ownership - Mullen Automotive institutional ownership
MULN institutional ownership / Mullen Automotive institutional ownership – Fintel.

According to Fintel, majority (203) of institutional owners are long with only 1 reporting short.

How much stock does Mullen Automotive CEO David Michery own?

The latest report shows David Michery owns approximately 14,937,660 shares of MULN stock.

The CEO has increased his position throughout 2022 and the start of 2023.

Latest MULN Stock News 2023

Despite Mullen Automotive’s share price plunging in the past month, the company has gone through a series of very positive news.

Buyers are there, especially retail buyers which is why shareholders are suspecting Mullen Automotive has become a target to naked short selling.

Do you think analyst price predictions were merely bait to introduce short sellers to liquidity?

What’s keep MULN stock down today?

Leave your thoughts in the comment section below.

Related: Expert Says a MULN Short Squeeze is Highly Probable

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16 Comments

  1. steve markovic

    No shorts do not own majority of MULN..Illegal fraudulent NAKED (counterfeit shares) shorts own it and virtually the whole stock market making it a literal Ponzi scheme that SEC and Finra have allowed!!

  2. Kirill

    On the threshold list for a month now. How can they keep getting away with this?

  3. Robert Ballard

    Frank,

    Do you still believe MULN will be $1.00 by the end of March?

    Is your short squeeze score going to drastically change from the range of 74 to 77?

    Will MULN stay at 7th on your short list; which way will it go?

    • Frank Nez

      What’s up Robert — hard to say. MULN stock will have to keep establishing higher lows and higher highs throughout the month to get to $1. It’s also very possible institutions run it up before shorting it again. The scenarios can keep going. Mullen Automotive may also do an extension where they don’t have to get to $1 until September. The other case is going through a reverse stock split to stay listed in the market. This will increase the share price but lower shareholder share count.

  4. Francy

    Markets are not transparent . Naked shorting seems to be unlimited a game field of Nefarious players.
    The only way the stock market can be a fair playing game is having naked shorting be transparent.

  5. Michael Stenson

    Frank, if you think the analyst price predictions were bait to get investors buying Mullen stock then you personally put that bait out there, repeatedly reporting on Mullen and the certain analysts price predictions of a potential 7000% rise. Do you feel you were misled? If so, what would your advice be to anyone thinking of investing in Mullen?

    • Frank Nez

      Yeah, so I put the information out there without knowledge of these institutional investors. I published info on MULN stock in early January, institutional investors increased in February. To anyone thinking about investing in MULN, don’t put your entire house on it. When I published the first news on Mullen, weeks later we were up more than 30%, so I know you can definitely make money. Just don’t invest more than you can afford to lose. Keep an eye on upcoming news, I will keep updating.

  6. Nora J. Hammerschmidt

    They should give them 30 days to cover their shorts or the company will take legal advise

    • Frank Nez

      Taking legal action would be great, GTII, GNS, and CLNV have already started.

  7. Nora J Hammerschmidt

    They should give them 30 days to cover their shorts or the company should take legal advise

  8. Duane Thomas

    I believe $MULN is the target of toxic finance companies like Esousa, Ault, Davis-Rice and all their toxic friends.

    • Frank Nez

      I’ll do some more research on this and report back to the community.

  9. Frank Nez

    Leave your thoughts below!

    • Tim Brightbill

      Is that high price projection supposed to be after a reverse split? If so, depending on the RS, the upside projection wouldn’t be nearly as high as it would seem.

      • Frank Nez

        I was thinking prior to any confirmation of a RS..

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