Tag: MULN Stock Prediction (Page 1 of 3)

Mullen Automotive to Test New Battery Tech This Year

Market News Daily - Mullen Automotive to Test New Battery Tech This Year.
Market News Daily – Mullen Automotive to Test New Battery Tech This Year.

Mullen Automotive (NASDAQ:MULN) is testing new battery technology by Q4 of 2023.

“Solid-state battery technology will offer customers the longest range commercial EVs available today.

Mullen will begin testing solid-state polymer battery technology in test vehicles on US roads in Q4 2023,” the company said in an official press release.

Class 1 commercial EV cargo vans are going to be outfitted with Mullen’s solid-state polymer battery technology, increasing current range from 110 miles to more than 200 miles on a single charge.

We can expect to see other changes, or modifications requested at the end of the Menzies Aviation 60-day pilot program by Q4 2023 as well.

Some of which include increased seating capacity and additional windows for enhanced driver visibility.

Upon completion of these enhancements and finalization of contract terms, it is anticipated that these updated vehicles will be used by Menzies to expand its fleet globally.

Currently, the Mullen Class 1 EV cargo van features a 46-killowatt lithium-ion battery pack with a 110-mile range.

It is expected that the solid-state polymer technology will deliver more than 200 miles of range on a full charge for the Mullen Class 1 EV cargo van.

In general, solid-state batteries offer higher energy density, faster charging time, smaller size, and better safety compared to traditional lithium-ion cells.

Statements from Mullen Automotive on New Battery Technology

Mullen Automotive new battery technology

“Electric vehicles for fleet applications are proven to reduce maintenance and operating costs,” said John Schwegman, chief commercial officer of Mullen Automotive.

“Offering a higher-range battery option at a similar cost structure would significantly increase the number of use cases and routes in which commercial customers could deploy EVs.”

“The Linghang Guochuang Holding Group Co., Ltd. partnership with Mullen brings next-generation LH solid-state battery technology to the forefront of vehicle production.

Our partnership accelerates the world’s use of solid-state polymer battery technology, not only on the vehicle level, but at all levels.

We are pleased to be the first company in the U.S. to implement LH solid-state polymer battery technology in a commercial vehicle in conjunction with Mullen Automotive,” said Yao Wang, general manager, new energy power business department, Linghang Guochuang Holding Group Co., Ltd.

“The continued development of solid-state polymer batteries into our portfolio of vehicles, starting with the Class 1 EV cargo van, demonstrates our continued commitment to improving battery efficiency and overall vehicle performance,” said David Michery, CEO and chairman of Mullen Automotive.

MULN stock fell more than -4% on Tuesday despite the positive development.

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Market News Today – Mullen Automotive to Test New Battery Tech This Year.

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Mullen and RMA Deliver EVs to MGT Lease Company

Market News Today - Mullen and RMA Deliver EVs to MGT Lease Company.
Market News Today – Mullen and RMA Deliver EVs to MGT Lease Company.

Mullen Automotive (NASDAQ:MULN) and Randy Marion Automotive Group (RMA) have delivered Class 1 EV cargo vans to MGT Lease Company, per an official statement.

MGT Lease Company is based in High Point, North Carolina.

The vehicle order was fulfilled through Randy Marion Automotive, a distributor of Mullen’s commercial EVs.

The initial order is for four vehicles, with subsequent future deliveries expected.

Mullen says announcements of additional customer class 1 van deliveries will follow.

Mullen and RMA Deliver EVs to MGT Lease Company
Mullen and Randy Marion Automotive (RMA) Deliver EVs to MGT Lease Company.

In a statement, Mullen says it is proud to announce MGT as one of its first commercial EV fleet customers.

MGT is a growing commercial vehicle sales and leasing company with annual revenue of over $70 million in 2022 and $100 million projected for 2023.

MGT’s primary customer base focuses on last mile segments, such as package delivery and retail, and vocations such as plumbing and electrician.

The company currently provides commercial vehicle sales and leasing across all major OEM brands, with focus on class 1-4 commercial vehicles. 

“Mullen’s class 1 is a perfect entry point for us and working with the Company. The class 1 segment no longer has internal combustion engine options from the major OEM brands and certainly does not have any class 1 EV options. One of the biggest opportunities we see is the class 3 cab-chassis segment, with the potential to upfit and offer unlimited options for commercial customers,” said Thomas Gavlik, managing partner at MGT.

Statements from Mullen Automotive

“MGT is a rapidly growing fleet leasing company that fully understands the commercial market and will help accelerate Mullen’s Fleet-First commercial vehicle approach,” said John Schwegman, Mullen’s chief commercial officer.

“We continue to see growing interest in our commercial EV offerings, and it’s great to have MGT as one of our first commercial customers,” said David Michery, CEO and chairman of Mullen Automotive.  

“We look forward to growing our relationship with MGT across our entire platform of commercial EV vehicles.”

Earlier this week, more than two dozen Mullen Class 1 EVs were spotted at RMA Group parking lots.

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

“I believe we have all the pieces in place between our product, factories, and strategic expertise to execute on our plans to deliver our Class 1 and Class 3 vehicles this year,” said David Michery, CEO and chairman of Mullen Automotive.

“Furthermore, we continue to invest and move at a fast clip with the Mullen FIVE program, which will soon be approaching vehicle engineering freeze, allowing us to move into the next phase of the crossover program.”

What is Happening with MULN Stock?

MULN stock is up more than +17% on the week and has established an uptrend.

Mullen Automotive shares have been suppressed by heavy shorting despite big demand for the stock.

On Friday morning, volume has surged to nearly half a million in trading volume with the options volume distribution leaning heavily on call option contracts.

Bullish sentiment in Mullen Automotive stock has not waivered despite falling share prices this year.

Will MULN stock finally begin to move up again?

MULN stock - Technical Analysis, Franknez.com.
MULN stock – Technical Analysis, Franknez.com.

At the time of this publication, MULN stock is trading at $0.1330.

We’ve seen a double bottom around $0.13 flat — which shows strength at this level.

If buyers are not able to create momentum here and sellers begin to pick up, a break below this level will lead MULN to retest $0.1190-$0.12.

However, indicators show selling momentum has begun to shrink while buyers are slowly coming in.

But unless big buyers step in, shareholders can expect some sort of consolidation between $0.13 and $0.14.

Still, Mullen Automotive stock looks bullish at the moment having broken structure from $0.11 on Thursday to $0.13 on Friday — signaling an upwards trend in the short term, or minor bounce when looking at the macro picture.

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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?

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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.

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Market News Today - MULN stock price target update.
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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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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

Market News Published Daily

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

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.

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Will MULN Shares Continue to Surge Next Week?

Will muln shares go up this week
Market News Today: Will MULN shares surge this week?

Will Mullen Automotive (NASDAQ:MULN) shares go up this week?

The company stock rose +7% on Friday after gaining +24% that trading week.

There’s a strong bullish sentiment surrounding MULN stock that is attracting new retail investors at just the right time.

Mullen Automotive recently received a $200 million purchase order for 6,000 cargo van EVs in December.

The news carries weight going into the first quarter of 2023 after the company’s partnership with industry leader, Randy Marion Automotive Group.

Momentum in the past month has compounded as more investors begin to discover price targets from experts and analysts.

Mullen Automotive’s stock price forecast targets a high of $24.15, mid of $23.46, and low of $23.23.

“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 in January.

Could MULN stock be the next GME, AMC, or even HKD?

These stocks surged 1,500%, 3,000%, and 20,000%.

MULN Bullish Trend

In the past month, MULN stock has had one particularly strong bullish trend; its call options vs put options ratio.

This market sentiment is what makes Mullen Automotive stock stand out from many others in the market.

It has an extremely high bullish conviction.

On Friday alone, we can see the stock had a total of 131.62K call options and 11.22K put options.

MULN Stock Call Options Webull - Mullen Automotive stock news today.
Will MULN shares surge this week? – Mullen Automotive stock news today.

That’s nearly 12 times more call options than put options.

And this is a trend we’ve seen all throughout the new year so far.

Both retail investors and institutional investors are majority long on the company.

But Mullen Automotive will need to continue to prove itself to institutional buyers for heavier buying pressure to push the stock past $0.44, a strong resistance level.

MULN stock tested $0.44 in January and again during the first week of February.

Shares rejected $0.44 coming back down to $0.39 before bouncing back to $0.40 on Friday.

This means that even as shares fall, buyers are picking up the dips.

A break past $0.44 could create the chain reaction the stock needs to make its way to $0.60 and to $1.

Will MULN Stock Go Up This Week?

will muln stock go up this week?

MULN stock has proven to be extremely bullish this year-to-date.

If shares are able to maintain above $0.42 this week, it’s highly probable that the stock will continue to rise.

In a war between bears and bulls, bulls are in the lead, but they’ll need to maintain that buying pressure if they are to see $1 per share before Nasdaq’s deadline in March.

Are you holding Mullen Automotive stock this year?

Are you a long-term shareholder?

Leave your thoughts in the comment section below.

Market News Published Daily

FrankNez News Today - Will MULN stock go up this week?
FrankNez News Today – Will MULN stock go up this week?

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.


You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
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