Experts say positive news in the coming days to weeks is all Mullen Automotive (MULN) stock needs to trigger a short squeeze.
“Mullen Automotive is set up for a short squeeze that may not begin if the company cannot issue some favorable news in the next few weeks,” said MarketBeat analysts.
Experts are saying Mullen Automotive’s high trading volume and current price action all point to a short squeeze.
The company was able to finish 2022 strong with news after partnering with Loop Global to deploy EV charging solutions, including a public DC fast charging network and residential offerings.
Mullen Automotive is also preparing for 3 commercial product launches in 2023 after signing with their first U.S dealer partner, RMA Group.
In early December, the company announced Former General Motors Government Sales Leader Ronald Dixon will be leading Mullen’s EV charge for U.S government fleet sales.
Mullen Automotive has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Monday, February 13th, 2023 based off prior year’s report dates, according to MarketBeat.
Here is the latest MULN stock news.
MULN Short Squeeze Price Prediction
CNN Money is predicting MULN stock to make gains upwards of +7,000% this year from its $0.32 previous major level.
Stock analysts are giving Mullen Automotive a low of $23.23, a mid of $23.46, and a high of $24.15 per share.
The current analyst consensus is a strong buy.
Now more analysts are saying all Mullen Automotive needs to trigger a short squeeze is favorable news in its next earnings report.
Entrepreneur says a flop could cause shares to slide, but retail investors are bullish on the automotive company.
In the past week, call options have dominated put options on Webull.
Today, we’re seeing MULN stock price consolidate as we get closer to earnings.
Where the company stock price goes from here will depend highly on news catalysts.
If the company is able to demonstrate results and progress going into the new year, institutions might favor buying in heavily, squeezing short sellers in the process.
MULN Short Interest Today
MULN’s short interest sits between 10%-44% according to a few data analytic websites.
Much of the bearish action and suppression in MULN stock today is being done by dark pools and off exchange action, per MarketBeat.
All the company needs to trigger a short squeeze is to give these bears a reason to run.
Will MULN Stock Go Up Soon?
Analysts say Mullen Automotive stock has formed a clear bottom in the $0.25-$0.36 that may easily turn into a reversal with good news from the company.
A bounce here could send the price to retest $0.60 in a few days or less.
Bullish continuation above $0.60 could take MULN stock to the $1 level.
But it’s all going to depend on the company’s annual report and earnings according to Entrepreneur.
Experts are still giving MULN stock a year-term projection of $23 per share.
Today, out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long, per Fintel.
In December alone, 18 financial institutions purchased shares of Mullen Automotive.
Two of the biggest financial institutions that have recently bulked up on MULN stock have been Vanguard and BlackRock.
Other major institutional buyers include Fidelity, the Russel 2000 index, Nationwide Mutal Funds, Schwab, Morningstar, and Blackstone.
What are your thoughts on Mullen Automotive Stock?
Are you holding for a MULN short squeeze or is Mullen Automotive stock merely on your stock watchlist?
Leave a comment down below.
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As more liquidity enters the market, I expect the number of call and buy orders in MULN stock will increase.
Mullen Automotive had a market capitalization of $437.7 million at the end of December 2022 and increased to $524.9 million in only the second trading day of the new year.
Today, MULN’s market cap is sitting at $467 million but reached nearly $700 million earlier last week.
MULN Stock Selloff Contributes to This Week’s Tumble
MULN stock had a selloff this Friday after it peaked last Friday around $0.47 per share.
However, $0.35 seems to be a strong level of support for Mullen Automotive.
Below that level is $0.28, where the stock is currently trading.
A big selloff has the potential to break consolidation causing shares to slide greatly.
On the contrary, big buying pressure will send shares to retest $0.47.
If the price is able to break above $0.50, shareholders can expect to see further bullish momentum.
Technical analysis shows us rejection at $0.47-$0.50 could send MULN stock to retest $0.30 or lower.
Which is exactly what happened on Friday’s trading day and on Wednesday of this week.
Friday saw significantly less volume than it did its previous week, so we know big volume is contributing to the rise of the price.
Two weeks ago, we saw 522 million in trading volume while last Friday we only saw 167 million in trading volume.
MULN has an average trading volume of 230 million.
The conservative buying volume in the past few days may have also contributed to the tumble.
MULN Stock 10-K and Reverse Stock Split News
Mullen submitted its Form 10-K on Friday the 13th, revealing a number of risk factors.
For the full year ended Sept. 30, 2022, Mullen — which posted no revenue — spent $21.65 million on research and development and $75.3 million on general and administrative expenses, totaling a loss from operations of just under $97 million. This compares unfavorably to the year-ago loss of $22.4 million.
Further down the statement, the net loss for the most recent fiscal year came out to $740.3 million. Again, this tally contrasted unfavorably with the year-ago’s net loss of $44.2 million.
As Mullen’s own Form 10-K stated, it must raise cash, likely through additional debt or equity financings. Fundamentally, the core concern for stakeholders is dilution, posing major worries for MULN stock.
A MULN reverse stock split is also on the table, which has contributed to the selloff we’re currently seeing today.
Shareholders will get to vote on passing this or not, but I’m curious to know your thoughts on this news below.
In 2021, Tesla reported 308,600 vehicle deliveries in the fourth quarter, and full-year deliveries of around 936,172 vehicles.
Dan Raju, CEO of Tradier, a brokerage platform says, “if and when a market bottom emerges in the first half of 2023, we’d be looking to technology as a fantastic long-term opportunity, given the heavy drawdowns since late 2021.”
Given Tesla’s current low prices, investors all over Reddit stock forums can’t keep it off their watchlist.
Share price at time of original publication 1/11: $123.28
Warner Bros. Discovery (NASDAQ:WBD) rose more than 31% in the first week of 2023 after Wall Street analysts upgraded the company with a modest 63% upside for the year.
“We estimate that WBD is best positioned to drive EBITDA growth, ramp free cash flow and delever its balance sheet in 2023 as it pursues $3.5 billion of merger synergies and relaunches its flagship streaming service,” said Goldman Sachs analyst Brett Feldman.
Meanwhile, Bank of America analyst Jessica Reif Ehrlich reiterated her “buy” rating and $21 price objective on the stock, while adding it to her company’s so-called “U.S. 1 list” of “best investment ideas.”
The Bank of America expert also highlighted positive trends and potential catalysts ahead. “It already appears January advertising trends have improved sequentially (albeit off a modest base) from December levels, and comps would ease as the year progresses,” she wrote.
On Reddit, Warner Bros. Discovery has been discussed amongst the r/wallstreetbets community and several other stock and investing sub-channels.
Share price at time of original publication 1/11: $12.70
Alibaba (NASDAQ:BABA) is another Reddit stock that was recently added to Goldman Sachs conviction ‘buy’ list.
Analysts say shares may rise more than 25% this year.
As part of its Nov. 17 earnings report, which showed adjusted profit up 5% year over year to $1.82 a share but revenue down 6% to $29.1 billion, BABA said it’s increasing its share buyback program by $15 billion, on top of an existing $25 billion program.
As of Nov. 16, the company said it already repurchased $18 billion worth of stock under its existing program.
Alibaba’s Composite Rating of 85 (on a scale of 1-99 with 99 being the best) has improved significantly due to the stock’s relative price strength.
The current consensus among 59 polled investment analysts is to buy stock in Alibaba.
Analysts are giving BABA a low of $74.35, mid of $142.70, and high of $220.61.
Share price at time of original publication 1/11: $114.50