Experts say positive news in the coming days to weeks is all Mullen Automotive (MULN) stock needs to trigger a short squeeze.
“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.
Experts are saying Mullen Automotive’s high trading volume and current price action all point to a short squeeze.
The company was able to finish 2022 strong with news after partnering with Loop Global to deploy EV charging solutions, including a public DC fast charging network and residential offerings.
Mullen Automotive is also preparing for 3 commercial product launches in 2023 after signing with their first U.S dealer partner, RMA Group.
In early December, the company announced Former General Motors Government Sales Leader Ronald Dixon will be leading Mullen’s EV charge for U.S government fleet sales.
Mullen Automotive has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Monday, February 13th, 2023 based off prior year’s report dates, according to MarketBeat.
Here is the latest MULN stock news.
MULN Short Squeeze Price Prediction
CNN Money is predicting MULN stock to make gains upwards of +7,000% this year from its $0.32 previous major level.
Stock analysts are giving Mullen Automotive a low of $23.23, a mid of $23.46, and a high of $24.15 per share.
The current analyst consensus is a strong buy.
Now more analysts are saying all Mullen Automotive needs to trigger a short squeeze is favorable news in its next earnings report.
Entrepreneur says a flop could cause shares to slide, but retail investors are bullish on the automotive company.
In the past week, call options have dominated put options on Webull.
Today, we’re seeing MULN stock price consolidate as we get closer to earnings.
Where the company stock price goes from here will depend highly on news catalysts.
If the company is able to demonstrate results and progress going into the new year, institutions might favor buying in heavily, squeezing short sellers in the process.
MULN Short Interest Today
MULN’s short interest sits between 10%-44% according to a few data analytic websites.
Much of the bearish action and suppression in MULN stock today is being done by dark pools and off exchange action, per MarketBeat.
All the company needs to trigger a short squeeze is to give these bears a reason to run.
Will MULN Stock Go Up Soon?
Analysts say Mullen Automotive stock has formed a clear bottom in the $0.25-$0.36 that may easily turn into a reversal with good news from the company.
A bounce here could send the price to retest $0.60 in a few days or less.
Bullish continuation above $0.60 could take MULN stock to the $1 level.
But it’s all going to depend on the company’s annual report and earnings according to Entrepreneur.
Experts are still giving MULN stock a year-term projection of $23 per share.
Today, out of 173 financial institutions investing in Mullen Automotive, only 1 is short with 172 being long, per Fintel.
In December alone, 18 financial institutions purchased shares of Mullen Automotive.
Two of the biggest financial institutions that have recently bulked up on MULN stock have been Vanguard and BlackRock.
Other major institutional buyers include Fidelity, the Russel 2000 index, Nationwide Mutal Funds, Schwab, Morningstar, and Blackstone.
What are your thoughts on Mullen Automotive Stock?
Are you holding for a MULN short squeeze or is Mullen Automotive stock merely on your stock watchlist?
Leave a comment down below.
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