MULN stock price is up more than +50% in the past 5 days and up +59.10% in the past month.
The stock elevated from a low of $0.18 to the current share price of $0.32, respectively.
Short squeeze discussions arise as MULN continues to be shorted, but more on that below.
In this article, we’re going to discuss what a MULN stock forecast for 2023 looks like, what the experts are saying, and price potential for this year.
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Here’s the latest MULN stock news.
What is MULN Stock?
So, what is MULN stock?
Mullen Automotive, Inc. is a Southern California-based automotive company that owns and partners with synergistic businesses working toward the unified goal of creating clean and scalable energy solutions and electric vehicles.
Mullen Automotive had a market capitalization of $437.7 million by the end of December 2022 but has increased its market cap to $524.9 million in only the second trading day of 2023.
Is MULN a good stock to buy?
MULN stock isn’t your steady type of investment to buy, and the risks are certainly there, but the reward could be just as promising.
Mullen Automotive at the moment isn’t profitable company, and it carries a substantial load of debt, but retail investors looking to trade it during a short squeeze may largely benefit from buying it today.
In fact, analysts are saying MULN stock is a strong buy.
MULN Stock Forecast | MULN Stock Price Prediction
So, what exactly are experts predicting about the company’s share price?
What is the latest MULN stock forecast for 2023?
Analysts are predicting MULN stock has the potential to surge more than 7,000% from its current share price of $0.32 to $23 per share.
This is a much more ambitious percentage gain compared to AMC’s short squeeze which soared more than 3,000% in 2021.
While the company’s fundamentals are strongly being worked on, as a trade, MULN has great potential.
According to Stock Analysis, MULN stock has a high price target of $24.15 per share (+7,351%) by the end of 2023.
Experts gave Mullen Automotive a median of $23.46 per share (+7,128%) and a low of $23.23 per share (+7,067%).
What’s going to move the stock?
Heavy buying pressure from retail and institutional investors alike.
Out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long, per Fintel.
Vanguard and BlackRock are two of the biggest and most recent Mullen Automotive investors.
Latest MULN Stock News
Mullen Automotive recently partnered with Loop Global to deploy EV charging solutions, including a public DC fast charging network and residential offerings.
“Our partnership with Loop will not only enable us to provide turnkey EV charging solutions to our customers, but also the Loop Impact Fund commitment is an opportunity to provide our customers with potential cash flow-positive alternative financing when implementing the Mullen EV Charging Network Powered by Loop. In addition to being highly strategic, this partnership aligns with our goal of end-to-end efficiency to make owning a Mullen EV much more user friendly,” said David Michery, chairman and CEO of Mullen.
“Loop Global is thrilled to partner with Mullen Automotive to offer turnkey electric vehicle charging solutions,” said Dustin Cavanaugh, CEO of Loop Global. “Our combined teams are dedicated to providing the most comprehensive technology and services to support the transition to electric transportation, and we are excited to work with Mullen Automotive to make that vision a reality.”
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.
This is an incredible and ambitious plan to expand the company if you ask me.
Also read: How to Invest in Stocks for Beginners
Let’s start a discussion
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