About 30 minutes into Friday’s session, Mullen Automotive Shares has dropped another 1.55 percent to $0.79.
Mullen Automotive Inc (MULN) is a new name to us, but it appears to have gotten a lot of attention this last week. When dealing with penny stocks, we usually advise care because they have a negative reputation for leaked information and overall volatility. The term “penny stock” is only descriptive and is not intended to be disparaging. A penny stock is a stock with a low market capitalization and a share price of less than $5. Mullen Automotive Inc Stock has a price of roughly $1 and a small market worth of $31 million, indicating that this is very speculative. Risk management must be strict in this situation.
What Is Mullen Automotive Inc?
Mullen Automotive Inc, an electric car manufacturer and distributor, builds and distributes electric automobiles. It also runs CarHub, a digital service that uses artificial intelligence to give an interactive solution for purchasing, selling, and having a car, and it offers battery technology and emergency point-of-care services. Mullen Automotive Inc was established in 2014 and is headquartered in Brea, California.
MULN Stock Price Today
Mullen Automotive Inc Stock Price declined -1.55 percent on the past day (Friday, 29th July 2022) from $0.81 to $0.79, marking the fifth consecutive day of decline. This might be an early sign, and the danger will rise somewhat over the following several days. A total of 156 million MULN Shares were purchased and sold for a total of $122.69 million.
In the near term, the Mullen Automotive Stock is in the middle of a very broad and downward trend, and additional decline within the trend is predicted. We are unable to provide a MULN Stock Price Prediction range due to its high volatility and movement direction.
Mullen Automotive Stock News
According to the Mullen Automotive Inc’s website, it is a California-based automotive company dedicated to developing sustainable, scalable energy solutions and electric automobiles. This has been a hot industry, with Rivian (RIVN) and Lucid (LCID) gaining significant interest last year, but the momentum has now shifted, and high growth stocks may struggle in the future. Mullen Automotive Shares soared on Monday after the business revealed a breakthrough in research.
“We’ve completed successful testing and will now move on to pack level development,” stated Mullen Automotive Inc CEO and Chairman David Michel. “The gathered testing results demonstrates an amazing performance and potential for solid-state batteries.” To summarize, we analyzed our 300 Ah (ampere-hour) battery, which produced 343 Ah at 4.3 volts and outperformed our expectations. We can very certainly predict that if deployed on the Mullen FIVE, this technology will provide over 600 miles of range on a single charge.”
That’s an incredible range, but the reaction was, in our opinion, excessively overblown. One may claim that the prior high Mullen Automotive Inc Stock Price levels when the Mullen Automotive Stock traded above $15 in November were one of the causes for the new rise but based on volume and a price increase of 145 percent, this appears to be an overreaction. Nevertheless, moves like these are not rare with penny stocks, so always strive to manage risk, as stops may not operate if the fluctuations are too wild or liquidity is scarce.
The significant increase in volume should have signaled a red flag. Mullen Automotive Shares were trading fewer than one million shares each day on average, but more than 250 million shares were moved on Monday and Tuesday. This indicates a sudden sharp momentum, which raises the possibility of a quick fall back, which is basically what has occurred.
MULN Stock Forecast 2022, 2023, 2024, 2025, 2030
There are many expert analyses of the MULN stock forecast. MULN stock price analysis is based on past and current stock prices. According to experts’ MULN stock forecast 2022 data, the predicted price is calculated as $0.91. According to another data, MULN stock forecast 2023 analysis, the predicted price is $ 1.13. In addition to this data, in the MULN stock forecast 2024 analysis of the experts, the price is calculated as $ 5.42. This data may vary according to current data, and MULN stock prediction 2025 is predicted to be $ 13.31. Finally, the MULN stock prediction 2030 is projected at $56.36.
Is Mullen Automotive Inc Stock A Buy?
Mullen Automotive Inc Stock has multiple bad signs and is in a very broad and declining trend, therefore we expect it will continue to perform poorly in the coming days or weeks. As a result, we rate Mullen Automotive Shares negatively.