Tag: MULN Stock (Page 1 of 6)

Free Live Daily Updates: AMC Short Interest Today + more

June 2, 2023 / Frank Nez / 94 Comments

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

#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

Daily Market News ☕

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 Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

Recommended For You ✨

Mullen Announces New Details on Government EV Testing

May 15, 2023 / Frank Nez / 1 Comment

Mullen Automotive (NASDAQ:MULN) has announced new details about the government EV testing project initiated back in April of this year.

The $680,000 contract was previously awarded by the District of Columbia, Washington, D.C., to EV Technologies, LLC. for the purchase and installation of EMM units on Chevrolet Bolts within the D.C. city government’s vehicle fleet.

Mullen Advanced Energy Operations (“MAEO”) is supporting EV Technologies for the execution of the contract, which started on April 24, 2023.

MAEO, which is a 51%-owned subsidiary of Mullen Automotive, is a collaboration with Global EV Technology, Inc. (“Global”).

MAEO has named Lawrence Hardge to the position of Senior Vice President of Technology.

Lawrence will be overseeing all technological aspects of the Energy Management Module (“EMM”) applications, per the latest press release by Mullen.

“We look forward to completing our installation work here in D.C., and the next steps as vehicles enter the fleet with our EMM and also future opportunities with the local and federal government agencies,” said Lawrence Hardge, CEO of EV Technologies, LLC.

“As testing and installations continue in D.C., we will provide further updates,” said David Michery, CEO and chairman of Mullen Automotive.

Testing and installation is planned for completion on a total of 40 vehicles over the next few weeks.

Mullen Becomes Exclusive Partner to New Federal Contractor

Mullen became an exclusive partner to a new federal contractor in early May.

The company announced today teaming up with Rapid Response Defense Systems (“RRDS”) to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders.

RRDS, one of the country’s leading small business federal contractors, has executed over 2,500 federal government delivery orders since 2014.

The company currently holds a prime seat on 12 Indefinite Delivery/Indefinite Quantity (IDIQ) federal contracts with combined funding ceilings of $4 billion.

In 2021, U.S. Secretary of Labor Martin J. Walsh recognized RRDS as a recipient of the 2021 HIRE Vets Medallion Award during an award ceremony at the U.S. Department of Labor.

“RRDS is all about providing solutions to the federal government,” said Mullen’s Manager of Government Sales Ronald Dixon.

“Whether its designing products to meet Department of Defense mission requirements or enhancing supply chain logistics, they have a remarkable success record.

In addition, RRDS will be a key vehicle supplier to the General Service Administration in an awarded 5-year multibillion-dollar vehicle contract.

We are focused on selling our EV products to the federal government and view this relationship as a strategic step in accomplishing that goal.”

“With the federal government’s strong interest in electrifying a growing portion of its vehicle fleet, Mullen’s commercial portfolio is very well positioned,” said RRDS SVP – Federal Fred Bouman.

Lawrence Hardge Hints at $10 Billion Saudi Arabia Deal

Global EV Technology founder Lawrence Hardge says Mullen Automotive has a $10 billion contract with Saudi Arabia.

“This is not what somebody said or what you heard, this is reality.

$10 billion contract with Saudi Arabia.

And more to come … Mullen and Lawrence Hardge are here to assist them, they have countries like Yemen, Israel, all of them have joined in to take this technology, and they’re going to produce it in Saudi Arabia and they’re also paying for a manufacturing plant to come to Michigan.

That’s in black and white.

So, the SEC if you’re watching, that’s already agreed upon.”

Mullen Automotive has not officially confirmed the $10bn contract with Saudi Arabia, though we have seen in the past that Mullen releases official statements months later after rumors begin to trend.

MULN stock fell -1.57% on Monday and is currently down more than -84% this year-to-date.

Market News Published Daily

Market News Today - Mullen Announces New Details on Government EV Testing. — Market News Today – Mullen Announces New Details on Government EV Testing.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen’s Cost to Borrow Is Now Reaching New Highs

May 12, 2023 / Frank Nez / 1 Comment

Mullen Automotive’s (NASDAQ:MULN) cost to borrow is now reaching new highs.

Ortex reports Mulllen’s live cost to borrow at 389.63% with the max cost to borrow having reached 454.59% on Thursday.

The cost to borrow, per Ortex, is the annualized percent of interest on loans, typically borrowed by brokers and hedge funds.

This percentage figure may change on a daily basis and level out through its ‘cost to borrow average’.

Hedge funds short on MULN stock are paying this massive interest rate just to be able to continue shorting it.

In the meantime, it costs retail investors nothing other than unrealized losses to buy and hold the stock.

When a stock’s cost to borrow is this high, it usually suggests a high conviction from short sellers.

The risk these hedge funds are taking is big considering there is strong conviction within the retail community as well.

Hedge funds risk getting squeezed out of this play having accumulated cost to borrow fees in the process.

MULN stock is currently trading at $1.25 and is down more than -84% this year-to-date.

MULN Short Interest Data

Mullen’s short interest has also begun to rise, signifying more short sellers are targeting the company.

Currently, MULN has a short interest of 16%-17%, updated daily here.

This is enough short interest to squeeze short sellers from their positions and initiate a short squeeze like we’ve seen in the past with AMC Entertainment for example, who only had a 22% short interest before dropping to 14% and shares rising from $9 to its all-time high of $72 per share.

However, there are two big obstacles here.

Massive buying pressure (liquidity) is needed.
Dark pool trading is suppressing retail demand.

Liquidity has been running dry in the stock market despite the S&P500 leveling out this year.

Banks are facing a crisis and the industry has even begun to call for a ban on short selling banking stocks.

But up to 70% of Mullen Automotive shares are being trading away from the lit exchange according to the most recent data.

The company has also stated that they are looking into the possibility of manipulation and illegal short selling of MULN stock.

In March, the company saw as many as 55 million FTDs in one single day.

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

Mullen Automotive announced in late April that it is taking certain affirmative steps in light of the extraordinary trading volume and evidence of unusually high levels of failure to deliver on short sales as reported to the U.S. Securities and Exchange Commission.

“These steps include retaining outside counsel, which is working with Shareholder Intelligence Services LLC (“ShareIntel”) to undertake a comprehensive analysis of data derived from broker-dealers, clearing firms and other sources to provide actionable intelligence on potential market manipulation and illegal short selling.”

Latest MULN Stock News and Updates

Aside from the latest Mullen cost to borrow updates, the company has had very positive developments this year.

While many shareholder hoped Mullen Automotive would not proceed with its latest 1-for-25 reverse stock split, the company has begun to fulfill new EV orders this year.

Mullen Automotive has received a new $15.7 million purchase order for 250 Class 3 Commercial EV trucks.

The company announced on Thursday the contract is valued at $15,755,000 for a full delivery date by December 2023.

Mullen announced the signing of a vehicle purchase agreement with MGT Lease Company (“MGT”), a national fleet leasing provider, to purchase 250 all-electric commercial class 3 cab chassis EV trucks.

The vehicles are slated for delivery beginning in August 2023, with complete fulfillment of the purchase agreement occurring by December 2023.

The vehicle orders will be fulfilled through Randy Marion Automotive Group, a distributor of Mullen’s commercial EVs.

“We are excited to begin delivering trucks to MGT Leasing this summer as they continue to scale up their business,” said John Schwegman, chief commercial officer Mullen Automotive.

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

For more Mullen Automotive news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Mullen's Cost to Borrow Is Now Reaching New Highs. — Market News Today – Mullen’s Cost to Borrow Is Now Reaching New Highs | MULN cost to borrow.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen Becomes Exclusive Partner to New Federal Contractor

May 8, 2023 / Frank Nez / 2 Comments

Mullen Automotive (NASDAQ:MULN) has become an exclusive partner to a new federal contractor.

The company announced today teaming up with Rapid Response Defense Systems (“RRDS”) to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders.

RRDS, one of the country’s leading small business federal contractors, has executed over 2,500 federal government delivery orders since 2014.

The company currently holds a prime seat on 12 Indefinite Delivery/Indefinite Quantity (IDIQ) federal contracts with combined funding ceilings of $4 billion.

In 2021, U.S. Secretary of Labor Martin J. Walsh recognized RRDS as a recipient of the 2021 HIRE Vets Medallion Award during an award ceremony at the U.S. Department of Labor.

Mullen Automotive recently announced big EV updates as well as a $263 million order from Randy Marion Automotive Group.

Global EV Technology founder Lawrence Hardge says Mullen Automotive has a $10 billion contract with Saudi Arabia.

“This is not what somebody said or what you heard, this is reality. $10 billion contract with Saudi Arabia. And more to come …”

Mullen Automotive has not yet officially confirmed the rumor.

Today, MULN stock is up more than +4%.

Official Statements

“RRDS is all about providing solutions to the federal government,” said Mullen’s Manager of Government Sales Ronald Dixon.

“Whether its designing products to meet Department of Defense mission requirements or enhancing supply chain logistics, they have a remarkable success record.

In addition, RRDS will be a key vehicle supplier to the General Service Administration in an awarded 5-year multibillion-dollar vehicle contract.

We are focused on selling our EV products to the federal government and view this relationship as a strategic step in accomplishing that goal.”

“Mullen’s Class 1 EV cargo van launches this year and will be the only class 1 EV van in the market. It is 100% electrified, making it a strong fit for federal government business.”

“Mullen Automotive is proud to team up with RRDS for U.S. government fleet opportunities for our Class 1 EV cargo vans,” said Mullen’s CEO and Chairman David Michery.

“We look forward to working closely with RRDS in meeting the demand for EVs across the U.S. government’s fleet of vehicles.”

Market News Published Daily

Market News Today - Mullen Becomes Exclusive Partner to New Federal Contractor. — Market News Today – Mullen Becomes Exclusive Partner to New Federal Contractor.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

New Data Shows MULN Short Interest Surges to 125%

May 5, 2023 / Frank Nez

New data from Ortex shows MULN short interest has risen to 125.54%, a rarity that has only happened 15 other times.

Mullen Automotive (NASDAQ:MULN) went through a 1-for-25 reverse stock split on Thursday; an effort to comply with Nasdaq’s $1 bid requirement.

Shares plunged the day of the announcement but have recovered to trade just above $1.50 on Friday morning.

It’s uncommon for a stock to have a short interest above 100%, which signifies overleveraged short positions in a security.

Before GameStop squeezed in 2021, retail investors on Reddit noticed the stock had a 140% short interest rate.

They piled in to buy the stock causing shares to rise and short sellers to close their positions before facing bigger repercussions.

Analysts at Goldman Sachs later noted that short interest exceeding 100 percent of a company’s public had only occurred 15 times in the prior 10 years, this is the 16.

MULN Short Interest — MULN short interest data.

What does this mean for MULN stock?

Will it squeeze like GameStop?

It certainly has the ability to, however, squeezing short sellers would require big buying pressure, as seen in GameStop and AMC for example.

The second biggest challenge is dark pool abuse.

Data shows 70% of trading in MULN stock has happened in dark pools, which suppresses retail demand in the lit market.

A MULN short squeeze may be on the horizon, but it’s going to take significant buying power to trigger it.

Latest MULN Stock News

Mullen Automotive has had many positive developments this year despite its falling share prices.

The company has announced big EV updates and a new $263 million purchase order for both Class 1 and Class 3 EVs from Randy Marion Automotive Group.

The company also reported that as of April 30, 2023, the cash available for Company operations was $116.1 million.

Production of the Mullen Five is scheduled to begin in the fourth quarter of 2023, per Mullen’s official announcement.

Once the FIVE goes into full-scale production, buyers will be contacted by a Mullen representative with a more definite delivery date, currently estimated to be in the second quarter of 2024.

Mullen Automotive will be building the new vehicle at their Tunica, MS factory and will be delivering vehicles to the closest Mullen Lounge Point for customer pick up.

The company will arrange to ship vehicles directly to customers if ordered online.

In April, Mullen Automotive announced that it would be opening an investigation into the possibility of the manipulation and illegal shorting of MULN stock.

$10 Billion Saudi Arabia Contract Rumor

Global EV Technology founder Lawrence Hardge says Mullen Automotive has a $10 billion contract with Saudi Arabia.

“This is not what somebody said or what you heard, this is reality.

$10 billion contract with Saudi Arabia.

That’s in black and white.

So, the SEC if you’re watching, that’s already agreed upon.”

Mullen Automotive has not officially confirmed the $10bn contract with Saudi Arabia, though we have seen in the past that Mullen will take months before releasing official statements.

If Mullen officially announces a $10 billion contract with Saudi Arabia in the near future, this is going to be huge for the company and investors alike.

MULN’s extremely high short interest shows short sellers are not concerned about these positive developments.

The biggest thing that can happen in Mullen Automotive is a short squeeze to rid the company of opposers.

For more MULN stock news, updates, and information, join the newsletter below.

Market News Published Daily

Market News Today - New Data Shows MULN Short Interest Surges to 125%. — Market News Today – New Data Shows MULN Short Interest Surges to 125%.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

More Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen Launches New Details on Class 1 and 3 EVs

May 4, 2023 / Frank Nez

Mullen Automotive (NASDAQ:MULN) just launched new details on its Class 1 and Class 3 EVs.

Yesterday, the company announced a new $263 million purchase order from Randy Marion Automotive Group.

The $263 million PO from RMA group is for both Mullen’s Class 1 vans and Class 3 work trucks.

Mullen Automotive said it had received a purchase order of $63 million for 1,000 class 1 EV cargo vans earlier this week, which may be part of the $263 million PO for both EV models.

In a new press release, the company states the Class 1 EV Cargo Van will have a starting MSRP of $34,500 and have a federal tax credit of $7,500.

“The Mullen ONE is anticipated to be the first EV cargo van for sale in the U.S. market in the Class 1 commercial vehicle segment.

This van was designed for last-mile delivery, with best-in-class cargo volume, payload, and turning diameter to easily navigate through narrow urban streets and residential roads.”

The Class 3 EV Truck will have a starting MSRP of $68,500 and also have a federal tax credit of $7,500.

“The Mullen THREE is an efficient Class 3 low cab forward EV truck featuring a tight turning diameter of 38 feet and excellent visibility for superior maneuverability on narrow city streets.

This versatile chassis provides a clean top-of-rail for easy upfitting with bodies up to 14 feet long and over 5,800 pounds of payload.

In addition, the design of the LCF chassis allows more cargo volume within a given overall length.”

Announcements from Mullen Automotive

“As more fleets focus on their sustainability goals addressing climate change, the net price points of our Mullen commercial products make this an easy choice and help accelerate their transition to electric,” said David Michery, CEO and chairman of Mullen Automotive.

“With both vehicles qualifying for the $7,500 federal tax credit, their Class 1 EV Cargo Van acquisition cost will reduce to $27,000, and Class 3 EV Cab Chassis Truck will reduce to $61,000.”

To-date, 19 EV Cargo vans have been delivered with 20 additional deliveries targeted for May 2023.

Mullen Automotive is also anticipating a purchase order for 200 Class 1 EV vans anticipated in May 2023.

Recently, a 1,000-unit purchase order, valued at $63M, for Class 3 EV Cab Chassis Trucks from Randy Marion Automotive Group was announced on May 2, 2023.

Production is planned to begin in August 2023 and final deliveries completed by Q1 2024. All commercial vehicles are produced in Tunica, Mississippi.

Mullen’s class 1 and 3 EVs aren’t the only vehicles investors are excited about.

The Mullen FIVE is expected to begin production later this year.

Mullen Five is Now Available for Reservation

Mullen Automotive is now accepting Mullen Five reservations.

You can now reserve your Mullen Five with a $100 refundable deposit.

“By placing this reservation, you’ve secured your spot in line and will be one of the first to own the all-new Mullen FIVE Electric-SUV Crossover.

When the vehicle is ready for production, you will have an opportunity to place an order before the Mullen FIVE is made available the mass market.”

The Mullen FIVE is available at a starting price of $55,000, final pricing will be confirmed based on vehicle customization and homologation.

Production of the Mullen Five is scheduled to begin in the fourth quarter of 2023, per Mullen’s official announcement.

Once the FIVE goes into full-scale production, buyers will be contacted by a Mullen representative with a more definite delivery date, currently estimated to be in the second quarter of 2024.

Mullen Automotive will be building the new vehicle at their Tunica, MS factory and will be delivering vehicles to the closest Mullen Lounge Point for customer pick up.

The company says it will arrange to ship vehicles directly to customers if ordered online.

For more MULN stock news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Mullen Launches New Details on Class 1 and 3 EVs. — Market News Today – Mullen Launches New Details on Class 1 and 3 EVs.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen Announces New 1-for-25 Reverse Stock Split

May 3, 2023 / Frank Nez

Mullen Automotive (NASDAQ:MULN) announced on Wednesday that it will go through a 1-25 reverse stock split, effective Thursday May 4th.

MULN stock fell more than -21% following the announcement.

At the same time, the company announced big EV updates as well as a new $263 million purchase order from Randy Marion Automotive Group.

But even that wasn’t enough to keep shares from falling on Wednesday.

Mullen’s new 1-for-25 reverse stock split means shareholders will see less shares in the brokerage account at a higher price per share.

For every 25 shares that a shareholder owns, they will be converted to 1 share.

For example, an investor holding 100 shares of MULN stock at $0.06 will now hold 4 shares of MULN stock valued at $1.50 post a reverse stock split.

Shareholders were hoping Mullen Automotive stock would organically meet the Nasdaq requirement with a reverse stock split being the last resort.

The best scenario that can happen moving forward is big companies stepping in to buy Mullen at its dollar price, with the worst case being the stock getting shorted back to pre-split levels.

Announcement from the Company (Mullen Automotive)

“Mullen’s Common Stock will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the existing symbol “MULN” and will begin trading on a split-adjusted basis when the market opens on May 4, 2023.

The Reverse Stock Split is primarily intended to bring the Company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq.

There is no guarantee the Company will meet the minimum bid price requirement.

At the Company’s reconvened Special Meeting of Stockholders held on January 19, 2023, the Company’s stockholders approved a proposal to authorize a reverse stock split of the Company’s Common Stock, at a ratio within the range of 1-for-2 to 1-for-25.

The Company’s board of directors approved a 1-for-25 reverse split ratio, and on May 3, 2023, the Company filed a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation to effect the Reverse Stock Split effective May 4, 2023.

The 1-for-25 reverse stock split will automatically combine and convert 25 current shares of the Company’s Common Stock into one issued and outstanding share of Common Stock.

No fractional shares will be issued in connection with the Reverse Stock Split.

All fractional shares will be rounded up to the nearest whole share.”

For more MULN stock news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Mullen Announces New 1-for-25 Reverse Stock Split. — Market News Today – Mullen Announces New 1-for-25 Reverse Stock Split.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen Announces Big EV Updates and New $263 Million Order

May 3, 2023 / Frank Nez

Mullen Automotive (NASDAQ:MULN) has announced big EV updates and a new $263 million purchase order from Randy Marion Automotive Group.

The company has reported that as of April 30, 2023, the cash available for Company operations was $116.1 million.

The $263 million PO from RMA group is for both Mullen’s Class 1 vans and Class 3 work trucks.

Yesterday the company announced it had received a purchase order of $63 million for 1,000 class 1 EV cargo vans, which may be part of the $263 million PO.

But despite these positive developments, Mullen Automotive stock continues to crash.

On Wednesday, volume soared to more than 1 billion with price plunging more than -21%.

Investors are outraged by the performance seen in the market.

In April, Mullen Automotive announced that it would be opening an investigation into the possibility of the manipulation and illegal shorting of MULN stock.

Latest Mullen Developments

Mullen Automotive released a lengthy press release on Wednesday highlighting big EV updates.

Here are just but a few of these current updates:

Mishawaka, IN Manufacturing Plant

Home to Mullen FIVE and Bollinger B1 and B2.

Commercial vehicle equipment transferred to Tunica, MS facility for commercial Class 1 launch
Commissioning of e-coat and paint facility for readiness to paint early prototype builds
Enterprise data infrastructure, including fiber optics, new servers, and security systems installed to support volume manufacturing

Tunica, MS Assembly Facility

Home to vehicle assembly for Commercial Class Vans and Trucks.

Mullen Class 1 and Class 3 commercial vehicles are assembled in Tunica, MS
In July 2023, the production line for Class 3 will become operational, with Class 3 trucks rolling off the line with anticipated deliveries and revenue in August and September 2023
Addition of trim and chassis assembly lines to accommodate new models
New capital expenditures including Automated Guided Vehicles to transport vehicles through plant, installation of robots, water test booth, and end-of-line diagnostics
Enterprise data infrastructure, including fiber optics, new servers, and security systems installed to support volume manufacturing
Hiring of 35 additional operational team members in support of commercial vehicle production

Mullen Consumer Vehicle Program – Irvine, CA

Mullen FIVE Crossover.

Simultaneously developing the Mullen FIVE family of vehicles, which includes two trim levels of the FIVE EV crossover and the high-performance Mullen FIVE RS variant
Vehicle styling freeze in Q4 2023 and production design of Mullen FIVE and FIVE RS planned for reveal at CES in January 2024
Virtual crash and aerodynamic simulations on track
Finalizing key supplier selection and engagement
Preparations for August 2023 Strikingly Different EV Tour in the works with expanded vehicles joining the planned upcoming tour, including, but not limited to, the Mullen FIVE and FIVE RS and Mullen Commercial Class 1 and Class 3 vehicles
Drivable demonstrator of the new Mullen GT will join the tour in September 2023

Investors, Tread Cautiously

Mullen Automotive stock has been a retail favorite, but new investors should tread cautiously.

The company stock seems to have a target on its back from Wall Street investors, and as we’ve seen with many other companies in the market, institutions have the leverage to create serious damage.

While these are all positive developments indeed for Mullen Automotive, the stock market is portraying a separate story.

But I’m curious to know your thoughts on Mullen’s current share price.

Leave your thoughts down below.

For more MULN stock news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Mullen Announces Big EV Updates and New $263 Million Order. — Market News Today – Mullen Announces Big EV Updates and New $263 Million Order.

For 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 site that keeps retail investors informed.

You can also follow Frank Nez on Twitter, Instagram, Facebook, or LinkedIn for daily posts.

Latest Market News 📰

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

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Gain Access Today!

Recommended For You ✨

Mullen Receives New 1,000 EV Order for $63 Million

May 2, 2023 / Frank Nez

Mullen Automotive (NASDAQ:MULN) announced on Tuesday it received a 1,000 order of Mullen THREE, a Class 3 low cab forward (“LCF”) EV truck from Randy Marion Automotive Group for a value of $63 million.

The vehicle deliveries are expected to commence sometime in August of this year.

The purchase order is valued at $63 million and is between Randy Marion Isuzu, LLC, a member of the Randy Marion Automotive Group, and Mullen Automotive.

These trucks feature over 5,800 lbs. of payload, which was unveiled at the NTEA Work Truck Show earlier this year.

Mullen Automotive announced yesterday that UNC Charlotte (The University of North Carolina at Charlotte) took delivery of an additional 8 Mullen EV class 1 cargo vans.

This is the second vehicle order for UNC Charlotte, with a total of 15 vehicles to be utilized across the university’s campus.

“We are very impressed with the first set of Mullen EV vans for our on-campus use,” said T.J. Woods, the university’s transportation, warehouse, and logistics manager.

“Ordering additional Mullen EV cargo vans makes perfect sense for us.

There’s a lower cost of ownership, no messy fill-ups, tailpipe exhaust, or disruptive vehicle idling sounds to impact our daily campus life.

Mullen Campus EVs are also great to highlight to our students, as it shows we can all make a difference in lowering our overall carbon footprint.”

As of recent, we’ve begun to see Mullen Automotive in action.

Below are other current developments from the company.

Mullen Five Now Available for Reservation