Experts are predicting Mullen Automotive’s (MULN) stock price to soar more than +7,000% by the end of the year.
The company recently had a series of successes leading to the new year.
And analysts are saying MULN stock is a big buy today.
Let’s dive deeper into what experts are telling us as well as what the retail community is saying.
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Here’s the latest MULN stock news.
What Are Experts Saying About MULN Stock for 2023?
In a recent case study, we see that analysts are predicting MULN stock to surge more than +7,000% by the end of the year.
This means experts are predicting MULN’s share price to rise to approximately $23 per share from $0.32 per share.
The forecast is ambitious without a doubt, but the company shows great signs of scalable growth both in the near- and long-term future.
Mullen Automotive recently partnered with Loop Global to deploy EV charging solutions, including a public DC fast charging network and residential offerings.
The company 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 also announced Former General Motors Government Sales Leader Ronald Dixon will be leading Mullen’s EV charge for U.S government fleet sales.
Mullen Automotive is expected to grow substantially in 2023.
Investors Remain Bullish on MULN Stocktwits Forum
Retail investors on the MULN Stocktwits forum and other social media platforms are preparing to collect massive gains as technicals align with upcoming bullish momentum.
The stock closed at $0.33 on Wednesday (1/11) after surging +4.35% from its previous trading day.
Mullen Automotive had a market capitalization of $437.7 million at the end of December 2022 but has increased its market cap to $524.9 million in only the second trading day of 2023.
If the company’s market cap continues to grow this rapidly then retail investors will begin to see exponential growth in their investment.
Call options in MULN stock have also overwhelmingly taken over the number of put options contracts.
On Wednesday there were a total of 59.91K call options versus 1.85K put options.
Significantly more investors are betting on MULN shares to rise than they’re betting on the stock to decline.
But that’s not all, the market sentiment only gets stronger for bulls going long on Mullen Automotive.
Financial institutions have also begun to bulk up on their long positions.
Let’s take a look at a few names you might be familiar with.
Which Financial Institutions Are Buying MULN Stock?
Two of the biggest financial institutions that have recently bulked up on MULN stock have been Vanguard and BlackRock.
Best of all, 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.
Other major institutional buyers include Fidelity, the Russel 2000 index, Nationwide Mutal Funds, Schwab, Morningstar, and Blackstone.
Similarly, we saw financial institutions beginning to go long on AMC Entertainment stock in 2021 before it shot up more than +3,000%.
Although the company stock was still being shorted, the massive buying pressure from both retail investors and institutions was powerful enough to drive shares sky high.
Are you holding shares of Mullen Automotive?
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