Tag: MULN Short Squeeze (Page 1 of 3)

Free Live Daily Updates: AMC Short Interest Today + more

AMC Short Interest Today
Momentum Stocks: AMC Short Interest Information – Plus more.

Community, I’m going to be updating this list of momentum stock and their short interest and utilization daily (AMC short interest, BBIG, MULN, BIOR, GME, APE, and many others).

Be sure to bookmark this page for daily AMC short interest updates and more.

Other metrics being updated daily will include the cost to borrow, shares on loan, + short squeeze scores.

If there are other heavily shorted stocks you’d like me to update daily, please leave a comment below and I’ll be sure to look into them before adding them to the list!

– Frank Nez

Franknez.com

#1. BBIG Short Interest

Short Interest: 14.15% | Utilization: 100.00 | Cost To Borrow: 10.92 | Shares On Loan: 3.06 Million | Days To Cover: 10.35

BBIG Short Squeeze Score: 85

(Updated Daily)


#2. MMAT Short Interest

Short Interest: 7.45% | Utilization: 80.44 | Cost To Borrow: 12.13 | Shares On Loan: 37.19 Million | Days To Cover: 3.38

MMAT Short Squeeze Score: 69

(Updated Daily)


#3. BIOR (PROG Stock) Short Interest Today

Short Interest: 1.41% | Utilization: 34.88 | Cost To Borrow: 97.97 | Shares On Loan: 922.57K | Days To Cover: 8.02

BIOR Short Squeeze Score: 68

(Updated Daily)

BIOR Stock news
Click the image to read the latest BIOR news article.

#4. AMC Short Interest Today

Short Interest: 21.58% | Utilization: 100.00 | Cost To Borrow: 57.51 | Shares On Loan: 182.43 Million | Days To Cover: 7.31

AMC Short Squeeze Score: 92

(Updated Daily)

Read: 1 Million Investors Have Now Enrolled in AMC’s Investor Connect


#5. GME Short Interest

Short Interest: 19.38% | Utilization: 100.00 | Cost To Borrow: 9.95 | Shares On Loan: 71.96 Million | Days To Cover: 16.07

(Updated Daily)

GME Short Squeeze Score: 89

Click the image to read the latest GameStop news article.

#6. DWAC SI

Short Interest: 6.69% | Utilization: 94.66 | Cost To Borrow: 15.90 | Shares On Loan: 1.77 Million

DWAC Short Squeeze Score: 71

(Updated Daily)

#7. MULN SI

Short Interest: 24.46% | Utilization: 100.00 | Cost To Borrow: 128.88 | Shares On Loan: 39.40 Million | Days To Cover: 1.85

(Updated Daily)

MULN Short Squeeze Score: 83

Click the image to read the latest MULN stock news aritlce.

#8. LCID SI

Short Interest: 18.64% | Utilization: 100.00 | Cost To Borrow: 20.35 | Shares On Loan: 242.47 Million | Days To Cover: 12.92

(Updated Daily)

LCID Short Squeeze Score: 92

#9. APE Short Interest

Short Interest: 5.34% | Utilization: 54.21 | Cost To Borrow: 7.41 | Shares On Loan: 18.01 Million | Days To Cover: 1.09

(Updated Daily)

APE Short Squeeze Score: N/A

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FrankNez – Daily Market News and stock updates.

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Related: This is What’s Stopping AMC From Squeezing Today



Mullen Has Until March 31st to Deliver 6,000 EVs

Market News Daily - Mullen Has Until March 31st to Deliver 6,000 EVs.
Market News Daily – Mullen Has Until March 31st to Deliver 6,000 EVs.

Mullen Automotive (NASDAQ:MULN) has until March 31st to deliver its 6,000 Class 1 cargo van EVs to Randy Marion Automotive Group.

Last week, CEO David Michery made addressed shareholders in a formal report confirming the delivery of 6,000 EVs to RMA, valued at $200 million.

At first, the rumors of the $200 million purchase order seemed to hold very little weight, at least according to shareholders who noticed the delivery had not been made yet.

Now that shareholders have received confirmation from the Mullen Automotive CEO, it’s just a matter of waiting for the promise to be delivered.

David Michery said the delivery would take place by the end of March 2023, making the 31st a big deadline for the company who’s shares have fallen more than -68% this year.

Mullen Automotive stock, now trading at just $0.10 was able to avoid getting delisted on March 6th when Nasdaq approved a second 180-day extension.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

“Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet Nasdaq’s requirement for a $1 minimum bid price,” said the CEO.

Why MULN Stock is Treading a Fine Line

Mullen to deliver 6,000 EVs to Randy Marion Automotive - MULN stock news today.
Mullen to deliver 6,000 EVs to Randy Marion Automotive – MULN stock news today.

MULN stock is risking hitting zero as it trades just barely above $0.10.

The company has had very positive developments so far in 2023, which has led investors to believe Mullen Automotive is a target for naked shorts.

CEO David Michery has been criticized by shareholders for not speaking out on the subject matter like other CEOs are doing today.

Mullen Automotive won license for IP and exclusive distribution rights in North and South American markets for the Qiantu K50/DragonFLY.

“This agreement with Qiantu is an important milestone for the company, said Mullen’s CEO and Chairman David Michery, adding that “since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019.

We are excited to start the GT and GTRS programs on March 20, 2023.”

But despite this great development, Mullen is treading a fine line with the deadline of the 6,000 EV delivery.

If it is able to deliver on its promise, Mullen Automotive will finally have its first fleet of EVs on the ground by a reputable industry leader.

Failure to deliver and the company might continue to face investor scrutiny, and damaging the last connection of trust the CEO has with its shareholders.

Mullen Class 1 EV Cargo Van – MULN Stock News Today.

Are you holding Mullen Automotive Stock?

What are your current thoughts on Mullen Automotive?

The stock price is in a very risky zone, but the delivery of its promise may completely change the tide around.

Will this be the development that sends MULN shares skyrocketing?

I’d love to hear your thoughts.

Leave a comment down below.

Market News Published Daily

Market News Today - Mullen Has Until March 31st to Deliver 6,000 EVs.
Market News Today – Mullen Has Until March 31st to Deliver 6,000 EVs.

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What is The Probability of MULN Stock Going to $0?

Market News Daily: Will MULN stock go to $0?
Market News Daily: Will MULN stock go to $0?

Concerned investors on social media have raised the question of MULN stock going to $0.

Mullen Automotive (NASDAQ:MULN) stock ended the week at $0.14, down -9.20% on the day and down -17% for the week.

MULN stock tested $0.44 in January and again during the first week of February, but shares have been plunging ever since.

The automotive company has had a string of positive developments, with the latest MULN stock news confirming the delivery of the $200 million purchase order.

But despite these positive developments, Mullen Automotive shares have continued to tumble with concerns in the air of MULN stock going to $0.

Some warn Mullen Automotive stock may crash to zero as bankruptcy risks rise.

But Mullen reports that as of Feb. 28, 2023, the company has $87,400,009 of cash and cash equivalents, including restricted cash, and expects to receive an additional $110 million from firm commitments by June 1, 2023.

An official statement from Mullen Automotive published on 3/16 read:

“The Company believes the combination of cash on hand and expected firm cash commitments provides it with enough capital to execute on its business plan over the next 12 months.”

Will Mullen Automotive go bankrupt?

Doesn’t seem likely by that statement.

Will MULN Stock Go to Zero?

Market News Daily: Will MULN stock go to zero?
Market News Daily: Will MULN stock go to zero?

Mullen Automotive CEO David Michery has a plan to issue a reverse stock split should the company fail to meet Nasdaq’s $1 bid per share compliance.

Will this strategy save MULN stock from going to zero?

It’s very possible, but investors are look at CEO David Michery for answers.

MULN stock chopped at $0.14 majority of the day on Friday.

If the stock is able to find a strong support here, we may begin to see it move up again if buyers flood in.

However, market makers and hedge funds are still in control of where prices are headed — we’ve seen these institutions drive companies to $0 before, mainly through naked short selling.

Mullen Automotive Avoids Getting Delisted

Market News Daily: Will MULN stock go to $0?
Market News Daily: Will MULN stock go to $0?

The company avoided getting delisted after it failed to meet its $1 per share requirement on March 6, 2023.

Nasdaq approved a 180-day extension for Mullen Automotive to meet the minimum $1 bid price per share.

On Sept. 7, 2022, Nasdaq provided notice to the Company that, based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule.

The Company was provided 180 calendar days, or until March 6, 2023, to regain compliance.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

“Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet Nasdaq’s requirement for a $1 minimum bid price,” said David Michery, CEO and chairman of Mullen Automotive.

Related: These 3 Signs Point Towards Naked Shorting in MULN Stock

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Market News Daily: Will MULN stock go to zero?
Market News Daily: Will MULN stock go to zero?

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Mullen Automotive Resignations Are Rising

Market News Daily: Mullen Automotive resignations raise accounting concerns.
Market News Daily: Mullen Automotive resignations raise accounting concerns.

Mullen Automotive (NASDAQ:MULN) resignations are rising, not a good sign as the company’s share price continues to tumble.

The company announced that Chief Accounting Officer (CAO) Kerri Sandler resigned on March 6th.

Vice President of Operations Chester Bragado became the new CAO immediately.

With over 20 years of experience, Bragado previously served as Mullen’s executive vice president of operations.

Before that, he held financial, auditing and accounting roles at companies like Sambazon and Loop Media.

Bragado has also served as an external auditor for PriceWaterHouseCoopers (PwC).

“There are no arrangements or understandings between Mr. Bragado and any other person pursuant to which he was appointed to serve as Chief Accounting Officer and Mr. Bragado does not have a direct or indirect material interest in any ‘related party’ transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K,” said Mullen in a Form 8-K.

“There are no family relationships between Mr. Bragado and any director or executive officer of the Company.”

Mullen Automotive News: Auditor Resigns

Market News Daily: Mullen Automotive resignations raise accounting concerns.
Market News Daily: Mullen Automotive resignations raise accounting concerns.

This announcement comes after Mullen’s auditor resigned this month.

Last week, Daszkal Bolton disclosed that it would resign immediately following a merger with CohnReznick.

Daszkal had been the company’s auditor since 2020.

Mullen did not provide any other reason for the resignation besides the merger.

Meanwhile, Mullen noted that it had engaged RBSM as its new public accountant.

Mullen Automotive has had many positive developments this year but its resignations are raising concerns.

The Brea, California-based company reported a net loss before accrued preferred dividends and non-controlling interest of $378.46 million for the three months ended Dec. 31.

MULN is currently down more than -57% this year-to-date.

7 Analysts had given the company a price target of $24.15 per share earlier this year but only 1 analyst is now giving the company a target of $23.

MULN stock is trading at $0.13 at the moment.

Hitting $1 per share is one of the biggest concerns for shareholders right now.

Mullen Automotive Avoids Getting Delisted

Mullen Automotive News Today: MULN stock avoids getting delisted.

Mullen Automotive avoided getting delisted after it failed to meet its $1 per share requirement on March 6, 2023.

Nasdaq approved a 180-day extension for Mullen Automotive to meet the minimum $1 bid price per share.

On Sept. 7, 2022, Nasdaq provided notice to the Company that, based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule.

The Company was provided 180 calendar days, or until March 6, 2023, to regain compliance.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

“Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet Nasdaq’s requirement for a $1 minimum bid price,” said David Michery, CEO and chairman of Mullen Automotive.

Market News Published Daily

Market News Daily: Mullen Automotive resignations raise accounting concerns.
Market News Daily: Mullen Automotive resignations raise accounting concerns.

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What Are Analysts Saying About MULN Price Target Now?

MULN Stock Price Target 2023
Market News Daily: MULN stock price target update.

Earlier this year, analysts had given Mullen Automotive (NASDAQ:MULN) a price target in 2023 of $24.15, or up 7,000% from at the time its $0.32 share price.

MULN stock is currently down -40% this year-to-date, though the stock did surge more than +30% earlier in January.

At the time, 7 stock analysts rated MULN stock as a ‘buy’.

Experts gave MULN a price target low of $23.23 (+7,067%), average of $23.46 (+7,138%), and high of $24.15 (+7,351%).

Mullen Automotive has undergone several positive developments this year despite a big drop in their share price.

The company recently received an exclusive federal government contract for its new electric cargo vans.

It also partnered with Menzies Aviation this first quarter, supplying the aviation company with thousands of vehicles.

Mullen Automotive stock did manage to avoid getting delisted last week after being unable to meet Nasdaq’s $1 bid requirement on March 6th.

Investors have suspected the company has become a target to naked shorting, illegal predatorial shorting tactics that drive shares down without owning any real stock.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

MULN Stock Price Target Update

So, what are analysts saying now regarding MULN stock’s price target for 2023?

Quite frankly, nothing.

Stockanalysis.com isn’t reporting a forecast anymore.

They removed all data from their website and stated, “there is currently no analyst price target forecast available for MULN”.

The analyst consensus is null and the 12-month forecast is no longer displaying on their website (see below).

But stockanalysis.com wasn’t the only site reporting Mullen Automotive stock’s price target.

They received their data from CNN Money/Business.

So, what is CNN Money analysts now saying about MULN’s price target for 2023?

According to their website, 1 analyst is prediction MULN Automotive to surge more than +13,000% to a high of $23 from its current share price of $0.17.

It’s no longer 7 analysts on the panel but rather 1 sticking to their convictions on MULN stock breaking into the low $20 levels.

CNN Business has also made their MULN stock forecast chart for the next 12 months unavailable, see below.

CNN is also reporting no analyst recommendations, where as before, they suggested Mullen Automotive stock was a strong buy.

Also Read: Big Short Sellers Own Majority of MULN Stock

What Will Become of MULN Stock?

Mullen Automotive CEO David Michery has had no communication with shareholders, something investors have demonstrated resentment towards.

Optimistic shareholders say the stock is a ‘hold’ as positive developments will eventually trump the company’s current adversity in the market.

Others are waiting to break even or a major runup to cash their investments out with profit.

Yet, there are still shareholders who believe in the success of the company long-term despite the risks.

I’m curious to know where you stand with Mullen Automotive stock.

Are you on board with the analyst MULN stock price target?

Feel free to add your thoughts and opinions in the comment section below.

Share this article and get heard.

Market News Published Daily

Market News Today - MULN stock price target update.
Market News Today – MULN stock price target update.

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Mullen Automotive Receives Exclusive Federal Contract

Market News Daily: Mullen Automotive Receives Exclusive Federal Contract.
Market News Daily: Mullen Automotive Receives Exclusive Federal Contract.

(WSBT) Mullen Automotive (NASDAQ:MULN) will now be the exclusive provider for a new class of electric cargo vans for the federal government.

It is also set to produce three types of electric vehicles at the former AM General site in St. Joseph County.

Potential success for Mullen Automotive is ahead, according to the South Bend Chamber of Commerce.

This comes as its new site in St. Joseph County looks to begin operation within a year.

Mullen Automotive will produce a new class of electric cargo vans for government use.

While those models will not be made in St. Joseph County, three other vehicles will.

That includes the Mullen 5 which is a Tesla Model 3-like competitor, the Bullinger B1 SUV and the B2 pick-up.

All will be made at the former AM General Plant, a site that has seen attempts of EV manufacturing in the past.

South Bend Regional Chamber of Commerce President Jeff Rea says the launch of a new partnership and product reflect the company’s success in a competitive market.

“Our hope is that they’re popular, that they get some good sales and some good traction, and then ultimately that leads to further sales and further production here in Mishawaka,” said Jeff Rea, South Bend Regional Chamber President and CEO.

Related: Will MULN Stock Reach $1 Before Its September Deadline?

Mullen Automotive Electric Vehicle Battery Plant?

Market News Daily: Mullen Federal Contract News.
Market News Daily: Mullen Federal Contract News.

Rea says Mullen is also developing technology for even more vehicles that will be produced in St. Joseph County.

He believes in Mullen’s chance for long-term success, as it has a broad focus with several different models set for production.

Adding the manufacturer could become a big asset for the county as it looks to become more competitive in the EV industry.

“We’ve wanted to be part of the jobs of the future, and the fact that we’re in this conversation for a potential large electric vehicle battery plant on the west side of the county for an allogenic expansion on the west side of the county, and the EV space now, Mullen on the east side of the county really solidifies us as part of this future economy, gives us this cluster if we can even work on developing a workforce and attracting other future users,” said Rea.

Although Mullen purchased the site months ago, production in St. Joseph County for Mullen vehicles is set for late this year or early 2024.

Latest MULN Stock News

Mullen Automotive (NASDAQ:MULN) just avoided getting delisted after it failed to meet its $1 per share requirement on March 6, 2023.

Nasdaq approved a 180-day extension for Mullen Automotive to meet the minimum $1 bid price per share.

On Sept. 7, 2022, Nasdaq provided notice to the Company that, based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule.

The Company was provided 180 calendar days, or until March 6, 2023, to regain compliance.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

In other words, it doesn’t seem like Mullen Automotive stock will get delisted.

“Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet Nasdaq’s requirement for a $1 minimum bid price,” said David Michery, CEO and chairman of Mullen Automotive.

You can read more MULN stock news here.

Market News Published Daily

Mullen Automotive Receives Exclusive Federal Contract. news.
Market News Today – Mullen Automotive Receives Exclusive Federal Contract.

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Will MULN Stock Reach $1 Before Its September Deadline?

Will MULN stock Reach $1
Market News Daily: Will MULN stock reach $1?

Mullen Automotive (NASDAQ:MULN) stock avoided getting delisted when it failed to meet Nasdaq’s dollar bid requirement; will MULN stock reach $1 before its new September deadline?

Nasdaq approved a 180-day extension for Mullen Automotive to meet the minimum $1 bid price per share.

On Sept. 7, 2022, Nasdaq provided notice to the Company that, based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule.

The Company was provided 180 calendar days, or until March 6, 2023, to regain compliance.

If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.

MULN shares dropped below $0.20 on Thursday, currently trading around $0.18 per share.

The stock is now down -41% after analysts gave the company a +7,000% prediction for 2023.

This was around the time MULN stock was trading at $0.32 — giving Mullen Automotive a price target of $24.

Despite positive developments in the company, Mullen’s share price continues to plunge.

Shareholders say Mullen Automotive may have become a target to naked short selling.

Are Investors Still Bullish on MULN Stock?

Yet another reason why investors believe MULN stock is being naked shorted, all signs still point towards bullish sentiment — buyers still outweigh sellers.

For the entire year, we’ve seen the call options volume distribution lean heavily more towards calls, and indication investors are betting on the stock to rise.

And although volume has recently come down from earlier this year, call options continue to dominate put options in the derivatives market.

Investors are clearly bullish on MULN stock despite the massive price decline in the past months.

On Thursday, we’re seeing calls volume outweigh put options by more than 19K in volume.

In the past we’ve seen hundreds of thousands of call option volume outweighing put option orders.

New buyers of the stock have also recently come into the market.

MULN isn’t as heavily shorted as AMC or other retail favorites, yet it’s price seems to be getting suppressed like these other ‘meme stocks’.

Will MULN Stock Reach $1?

Market News Daily: Will MULN stock reach $1?
Market News Daily: Will MULN stock reach $1?

Something we’ve seen in earlier this year is that heavy buying pressure has been able to move the stock up — all it’s going to take for MULN stock to reach $1 is enough buying momentum from retail investors.

But many shareholders liquidity pool has also begun to dry up, with many being long-term buyers who are deep in unrealized losses.

However, new investors may be able to profit on a move from current levels up to $1 per share.

Here’s a statement from Mullen Automotive’s CEO in regard to the company stock reaching $1 per share.

“Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet Nasdaq’s requirement for a $1 minimum bid price,” said David Michery, CEO and chairman of Mullen Automotive.

Will you be buying MULN stock in efforts to capitalize on a price surge to $1?

Or are you simply holding and hoping for the best?

Leave your thoughts in the comment section below.

Your voice is powerful, please share this article to raise awareness.

Related: MULN Stock Avoids Getting Delisted for Now

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Market News Today - MULN reverse stock split
Market News Today – Will MULN stock reach $1?

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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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How Soon Will MULN Stock Go Back Up Again?

will MULN stock go up
Market News Today: Will MULN stock go up?

Mullen Automotive (NASDAQ:MULN) stock has plunged all throughout February after it had risen and then consolidated during the month of January.

The automotive stock started the year around $0.32 per share and rose above $0.44 before retesting it three times and coming back down.

Analyst predictions have triggered heavy buying pressure from retail investors.

Despite massive waves of retail coming in, shareholders suspect naked shorting in MULN is to blame for the declining share price.

Shares rose from $0.21 to $0.24 on Tuesday, up more than 7% intraday.

Still, volume has proven many times over to move share prices back up.

In late January, MULN stock surged more than 18% when volume surged to 382 million, up 165 million from its average during that month.

Will MULN stock go back up soon?

Let’s discuss what’s happening.

Latest MULN Stock News 2023

Will Mullen Automotive shares go up?

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

The latest MULN stock news this year are bullish enough to send shares up to space.

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

A predatorial practice in the market used to short the stock without any real shares.

Will MULN Stock Go Up Soon?

Mullen Automotive stock has formed a bull flag intraday — an indication that the stock is ready to make moves upwards.

Will MULN stock go up?
W

We can see that bullish sentiment pushed the stock upwards from its previous close and has begun to consolidate.

Big buying pressure may result in higher moves for Mullen Automotive stock in the short term.

However, if short sellers are able to flood the market with more sell orders than buy orders, expect a fake-out and for shares to retest lower.

In terms of the macro picture, technical analysis shows us MULN stock is in a downtrend channel but has broken the channel today in an upwards attempt to reverse.

If retail investors are unable to build strong enough buying momentum to send shares up, we can expect Mullen shares to continue its macro downtrend.

A falling wedge tends to eventually break upwards (patterns based on historic sentiment), so it’s very possible we see a bounce back up and a new trend begin to form, too.

It’s important to know that both the options volume and institutional/retail sentiment remain bullish.

But I’m curious to know your thoughts on where Mullen Automotive is headed.

Leave your thoughts in the comment section down below.

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Ault Alliance Becomes the Largest Shareholder in MULN Stock

Market News Today: Ault Alliance becomes the biggest MULN stock shareholder.
Market News Today: Ault Alliance becomes the biggest MULN stock shareholder.

As of Dec. 31, Ault owned a total of 71.96 million shares of Mullen Automotive (NASDAQ:MULN) stock, equivalent to a 4.07% ownership stake.

This puts Ault Alliance as the largest stockholder of the company, according to Whale Wisdom.

Ault last reported a stake of 2.41 million shares. 

Bollinger CEO Robert Bollinger comes in second place with ownership of 51.07 million shares as of Q3.

MULN shares have dropped in February, but bullish sentiment remains strong with both retail and institutional investors.

Share prices surged to $0.44 in January only to come back down and bounce from $0.28.

The stock recently retested the $0.44 again in February but rejected the level.

Today we’re going to go over the latest developments and updates on Mullen Automotive.

Let’s get started!

Ault Alliance is Bullish on MULN Stock

Ault Alliance
MULN Stock Ownership.

Ault’s bullish stance on Mullen Automotive stock shows how much conviction the company has this early in the EV company.

Mullen Automotive has been making fundamental progress as it makes its first I-GO deliveries in Ireland and teams up with Menzies Aviation to supply the company with its Class 1 EV cargo vans.

In December, the company received a $200 million purchase order for 6,000 EVs from Randy Marion Group.

Vanguard tallies in as the third-largest stockholder with a 45.67 million share stake.

The exchange-traded fund (ETF) provider reported adding 23.07 million shares during Q4. 

BlackRock is also a major stockholder with ownership of 26.42 million shares.

BlackRock acquired 137,059 shares during Q4.

We can see that these institutions are going big on MULN stock, which is very significant for shareholders betting on the company stock to squeeze.

Analysts are giving Mullen Automotive shares a price target high of $24.15 this year.

Despite Mullen’s current share price, there seems to be a lot of confidence in the company today.

Falling share prices could signal a steal for new investors planning to open a position in the company.

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Market News Today - MULN Stock News Today - FrankNez.
Market News Today – MULN Stock News Today – FrankNez.

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