Tag: MULN Stock Prediction (Page 2 of 6)

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.

[stock_market_widget type=”chart” template=”basic” color=”#5679FF” assets=”MULN” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” display_currency_symbol=”true” api=”yf”]

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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