Tag: MULN Stock Forecast (Page 2 of 5)

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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These 3 Signs Point Towards Naked Shorting in MULN

Naked Shorting MULN Stock
Market News Today: These signs point towards naked shorting in MULN stock.

Mullen Automotive (NASDAQ:MULN) stock has plummeted after rising earlier this year.

The stock fell to $0.21 on Monday and is currently down -32% this year-to-date after having surged to $0.44 in January and again in February.

MULN stock was given a price prediction of $24.15 earlier this year, up more than +7,000% from the then price of $0.32.

7 analysts from CNN Money said Mullen Automotive was a strong a buy yet the stock has fallen 34% in the past month alone.

Shareholders believe MULN has become a victim to naked short selling.

What is naked short selling?

Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist, per Investopedia.

The predatorial practice allows short sellers to short a stock without there actually being any stock available to short.

The SEC approved the use of naked short selling on IPOs in 2015 although it was deemed an illegal practice in 2010.

In this article we’re going over 3 big signs that point towards naked shorting in MULN.

Be sure to share this article with the community to raise awareness.

#1. Call Options Overweigh Number of Puts

The number of call options on Mullen Automotive continue to outweigh the number of put options.

Although volume has dropped recently, call options are still leading the derivatives market.

MULN call options vs put options – Franknez.com.

Even when MULN stock had hundreds of thousands of call option orders, the stock price was being suppressed despite very little put option volume.

Usually when the demand of a stock isn’t reflecting intraday, we can conclude that either heavy dark pool trading or naked shorting is taking place.

This is a big problem we’ve seen with other stocks such as AMC Entertainment for example.

Mullen Automotive stock has patterns that suggest suppression may be keeping share prices from rising.

#2. MULN Stock FTDs

Another clear indication of naked shorting in a company can be traced back to the number of FTDs out in the market.

FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.

These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.

In the case of sellers, it means not having the goods to meet that transaction.

Failure-to-deliver can occur in options trading or when selling short naked, per Investopedia.

By the end of January, Mullen Automotive had more than 15 million FTDs amounting to more than $5 million, per Stocksera.

MULN stock FTDs
MULN naked shorting – MULN naked short selling – FTDs via Stocksera.

Naked shorting could be occurring in both shares and options contracts.

#3. Short Ladder Attacks

Shor ladder attacks are a way of trading back and forth between parties with the mission to drive shares lower.

It’s a loophole that isn’t necessarily deemed illegal but could be combined with the illegal tactic of ‘spoofing’.

Spoofing occurs when orders flood the market to change the direction of a stock but get cancelled right before they execute.

Signs pointing to naked shorting in MULN stock.

This form of naked shorting influences the market through the use of fake shares or ‘fake orders’ that don’t necessarily exist.

A perfect example of a short ladder attack can be seen in the image above where price chops upwards but ultimately drops lower and lower like a ‘ladder’.

This is manipulation of the stock from rising.

Related: Investors Say CEOs Should Fight Naked Short Selling Like GNS

Do You Think Naked Shorting in MULN is Happening?

Market News Today
Market News Today: These signs point towards naked shorting in MULN stock | Mullen Naked Shorting.

Leave your thoughts in the comment section 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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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

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

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

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