Tag: Mullen Automotive Stock

Mullen Automotive Supplies Menzies Aviation with EV Cargo Vans

Market News Today: Mullen Automotive partners with Menzies Aviation.
Market News Today: Mullen Automotive partners with Menzies Aviation.

Mullen Automotive (NASDAQ:MULN) has partnered with Menzies Aviation in a 60-day pilot program that will evaluate the Class 1 electric vehicle cargo vans in several use cases across its operations at LAX.

Menzies Aviation is the world’s largest aviation service company and it’s looking for innovative solutions to support its ambitious goal of becoming carbon neutral by 2033.

Menzies has a global fleet of 27,000 ground service equipment, including over 8,000 vehicles, at 250-plus airports worldwide and is committed to switching to electric wherever possible to reduce emissions in line with its sustainability strategy. 

If all goes well with Mullen’s Class 1 EV cargo van, Mullen Automotive could become a pioneer in electrifying airports around the world.

Loop Global Inc. will also be partnering with Mullen and Menzies to provide charging infrastructure, a solution to one of the challenges in today’s EV world.

This is big news for the automotive company.

Mullen Partners with Menzies Aviation

Menzies Aviation Mullen Automotive
Mullen Stock News Today: Mullen Automotive partners with Menzies Aviation.

John Redmond, executive vice president Americas, Menzies Aviation, said:

“Collaborating with suppliers, airports and our airline customers is absolutely vital for Menzies to achieve its sustainability goals.

We have committed to switching to electric vehicles wherever possible to reduce our carbon emissions; however, charging infrastructure can be a barrier, so it’s great to be working with both Mullen and Loop to pilot a solution at LAX.

Early feedback is positive, and I’m looking forward to seeing the results from this collaboration.”

Dustin Cavanaugh, CEO of Loop Global, Inc., said:

“The team at Loop is honored to have this opportunity to deliver such a pioneering venture in collaboration with Mullen and Menzies.

We hope this pilot at LAX is just a stepping stone in ushering in a new era of fleet electrification at airports throughout the world.”

David Michery, CEO and chairman of Mullen Automotive, said:

“Menzies is a well-respected leader in the aviation industry.

Our commercial EVs are a natural fit for airport service and logistics operations.

Working together with Menzies and Loop providing a full EV ecosystem solution is a great opportunity for Mullen.”

Recent Mullen Automotive News

In December, Mullen Automotive stated that it had received a $200 million purchase order for a total of 6,000 Class 1 EV cargo vans from Randy Marion Automotive Group, one of the largest and most respected commercial vehicle dealer groups in the U.S. 

“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA.

“There’s significant pent-up customer demand for Mullen to fulfill. I have many customers looking at me to find product for their companies.”

“This is a real vote of confidence in our company. We appreciate Randy’s vision and aggressiveness to partner with us,” said John Schwegman, chief commercial officer for Mullen Automotive. “He clearly sees the future in commercial EVs.”

“The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said David Michery, chairman and CEO of Mullen Automotive.

Related: MULN Stock Price Is Predicted to Soar +7,000% This Year

Market News Published Daily

Market News Today - Mullen Menzies partnership takes flight.
Market News Today – Mullen Menzies partnership takes flight.

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BREAKING: Expert Says a MULN Short Squeeze is Highly Probable

Stock Market News: A MULN short squeeze could be underway soon according to experts.

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.

MULN Stock Price Forecast 2023 - CNN Money.
MULN Stock Price Forecast 2023 – CNN Money.

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.

institutional investors
MULN stock institutional investors | Mullen Automotive short squeeze.

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.

For more MULN stock news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

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Big Volume Raises MULN Share Prices by More Than +18%

Stock Market News Today: MULN share prices rise as volume surges.
Stock Market News Today: MULN share prices rise as volume surges.

Mullen Automotive (NASDAQ:MULN) share prices rose more than 18% on Wednesday after big volume carried the stock up to nearly $0.36 from its open of $0.2894.

MULN stock retested $0.35 after hours after closing the trading day at $0.3485.

Volume surged to 382 million, up 165 million from its average intraday volume of 216 million.

Technical analysis earlier this week showed us a push towards the upside would get triggered after breaking above $0.294 and $0.31.

Investors were able to build momentum causing MULN shares to rise on Wednesday.

MULN share prices have steadily traded in the $0.32 range since the beginning of the year.

The automotive stock jumped to $0.44 before retesting its major bottom level.

Will MULN shares keep rising?

117K Call Options vs 1.9K Put Options

A pattern we’ve been seeing with Mullen Automotive stock all of January is much larger call options than put options in the market.

Big volume pushed MULN share prices up on Wednesday with several call options making gains.

Webull’s volume distribution shows us MULN had 117K call options and 1.9k put options on Wednesday.

MULN Stock Webull - Franknez.com.
MULN Stock Webull – Franknez.com.

Call options in MULN have overwhelmed the minority of investors betting against the company stock.

As more and more retail investors come to discover Mullen Automotive, we can expect to see MULN share prices rise.

The company stock continues to be a ‘buy’ from analysts predicting shares to soar more than +7,000% this year.

MULN stock is predicted to reach a high of $24.15 in 2023.

Getting MULN shares to $1 will be the first big milestone for the company stock.

And while experts say continuation of 2022’s bear market can be expected this year, the market has shown us that investors have the power to move the markets as a whole, despite market conditions.

Read More MULN Stock News Here

Are you holding Mullen Automotive stock?

Leave your thoughts below on what you think will happen with MULN stock this year.

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FrankNez News - MULN Stock News, Business News, + more.
FrankNez News – MULN Stock News, Business News, + more.

For more stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media blog that keeps retail investors informed.

You can also follow me on TwitterInstagramFacebook, or LinkedIn for daily posts.


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