David Michery, CEO and chairman of Mullen Automotive, and Robert Bollinger, CEO and founder of Bollinger Motors, will discuss Mullen's majority acquisition of Bollinger and strategic vision for . Previous testing includes EV range increases of 60-70%. Share this: Click to share on LinkedIn (Opens . One, it's not talent. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Plus500. Mullens CEO and institutional investors showing an apparent lack of confidence in Mullen. Mullen Automotive is an emerging EV company that only recently went public. Real-time analyst ratings, insider transactions, earnings data, and more. 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Getting back to $1 next year is entirely possible, as Mullen is reducing its debt while entering boldly into the last-mile delivery EV niche. That event sparked a short squeeze in the stock marked by more than 6.5 billion share trades. Mar 16, 2022 5:51 AM EDT Mullen Automotive ( MULN) is an electric vehicle (EV) company that also operates CarHub, an artificial intelligence-based platform that lets users buy and sell cars.. This was the result of a reverse stock . BREA, Calif., June 23, 2022- via InvestorWire - Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, announces an update for Mullen shareholders, including recent highlights and accomplishments for the Company, the Mullen FIVE and the Mullen EV Van programs. I would like to thank the many D.C. government officials who made this a reality,” said Lawrence Hardge, CEO of EV Technology and chief scientific officer of MAEO. Tunica will be home to production for Class 1 - 6 commercial EVs. Thats unjustifiable. The market is currently testing resistance at the December highs near $0.325, if it can get above there a move up to the summertime highs near $0.60 will be possible and it could happen fairly quickly. In several past columns, Ive discussed why I doubt Mullens technological acumen; given all these points, Im not hopeful about the automakers newest venture. To learn more about the Company, visit www.MullenUSA.com. Examples of such risks and uncertainties include but are not limited to: (i) the timing of the commencement of the installation and testing of the Energy Management Module (EMM”) units and whether the installation of the EMM units on the D.C. city government’s Chevrolet Bolt vehicle fleet will be successfully implemented; whether the contract awarded by the District of Columbia, Washington, D.C., to EV Technologies, LLC will be assigned to MAEO as contemplated by the agreement between Mullen and EV Technologies; whether the terms of the city government contract will be honored by the contracting parties; whether the pilot program with the District of Columbia, Washington, D.C., will be successful or result in additional orders or contracts; whether any other purchase orders or agreements for the EMM technology will materialize; whether the test results, which indicate that applying Energy Management Module (EMM”) technology to an electrical vehicle significantly increases vehicle range, are accurate; whether the results achieved from the initial testing by Element and Mullen are sustainable, scalable, or will produce the expected results when deployed in the city government’s fleet of Chevrolet Bolts, the Company’s or other vehicles; whether any expected vehicle range increases can be achieved at a low cost; whether the Company’s recently acquired joint venture technology will greatly improve current EV performance by increasing EV vehicle range or otherwise; whether the projected increase in range and mileage are accurate or achievable; whether the EMM product will be successfully completed or integrated into the city government’s fleet of Chevrolet Bolts or any other vehicles; and whether the EEM product and associated technology will prove beneficial; (ii) whether the commercial product launches contemplated for 2023 will materialize within the slated timelines; (iii) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (iv) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (v) Mullen’s ability to successfully expand in existing markets and enter new markets; (vi) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (vii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (viii) the ability to attract and retain qualified employees and key personnel; (ix) adverse effects of increased competition on Mullen’s business; (x) changes in government licensing and regulation that may adversely affect Mullen’s business; (xi) the risk that changes in consumer behavior could adversely affect Mullen’s business; (xii) Mullen’s ability to protect its intellectual property; and (xiii) local, industry and general business and economic conditions. Discover Jobs. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. Of course, Micherys decision to unload the shares does not inspire confidence in MULN or MULN stock. post# 3759, CGAC Completes $894,325 Purchase of 412 Bitcoin Miners, Mining Operations Underway 326 E 8th St #105, Sioux Falls, SD 57103 If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. Lets add the $90 million Mullen looks poised to receive from its investors, and another $20 million its borrowing. It is easy to see on the weekly chart; it put a bottom in the market as . Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: For those wondering when or if Mullen Automotive's NASDAQ: MULN stock price will see a short squeeze, the best answers are probably soon. 7 Years: $33.23 per hour. All rights reserved. The vote is for approval for a reverse stock split that could get the price up above the $5 level. Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (EVs”) that will be manufactured in two Company owned United States-based assembly plants. Get the latest Mullen Automotive Inc (MULN) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. With proximity to all major rail lines, interstates, Mississippi river systems, and air logistics, our Tunica factory is located in a primary logistical center of North America. Mar. I am very proud that the first major field application is with the DC city government, where we will demonstrate the benefits of our EMM technology. Further, as of the end of last year,Mullen had only $68 million of cash left. InvestorsObserver. For Employers. These investors will then be allowed to buy back shares for a bit over 5 cents each. 1125 N. Charles St, Baltimore, MD 21201. The split is twofold, the 1st is to get the share price above the $1 level so the company can avoid delisting from the NASDAQ exchange, and the 2nd is to provide the company with more ammunition for raising capital. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. Thats a meager sum for an EV maker looking to ramp up production. Apr 26, 2023 1:24 PM, PTOP Renegotiates MOBICARD 2.0 Contract - MOBICARD 1.5 will Be Released First Oder einloggen mit. Of course, these investors desire to unload their shares in exchange for the right to repurchase them for slightly over 5 cents each does not suggest that they have much confidence in the outlook of MULN stock. Mullen Automotive Stock Price Ready to Explode. Apr 27, 2023 8:30 AM, The Metals Company Engages Bechtel to Support NORI's Commercial Contract Application for NORI-D Nodule Project The Companys stock will also be automatically added to the appropriate growth and value indexes. Mullen has evolved over the past decade in sync with consumers and technology trends. Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Jobs. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Do this now. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. The indicators on this chart are also interesting because both the MACD and stochastic are diverging from the fresh lows and showing bullish signals echoed on the daily chart. In exchange, the investors agreed to . This clearly indicates that institutional investors seem to have lost confidence in Mullen and MULN stock. Plus, Mullen Automotive is venturing into the European EV market. Discover Salaries. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions' (ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. Clearly, Mullen will be a fierce competitor in 2023. The van has been picked up and is currently being modified to fit the specs required by the customer in anticipation of a vehicle purchase order, including an upgrade to an 80-kWh battery pack. Not long ago, Mullen Automotive announced that it has eliminated around $13 million of debtand has less than $10 million of debt remaining. Our daily ratings and market update email newsletter. It shouldnt be long now, actually. American Consumer News, LLC dba MarketBeat 2010-2023. Get daily stock ideas from top-performing Wall Street analysts. The Mullen FIVE, the Companys first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," and "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. Because their car is nothing special, and stop referencing that dragonfly car, it's Chinese and that deal is no longer a thing. Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. The truly astounding figures, however, are the cost to borrow which has been running more than 350% and as high as 750%. Contact Thomas Hughes via email at tmhughes.writeon@gmail.com. All rights reserved. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. It doesnt matter if you have $500 or $5 million. Mullen Automotive (NASDAQ: MULN) is one of those small EV companies that struggle to get the attention it deserves. In exchange, the investors agreed to pay the automaker a relatively small sum of $90 million. Thinking about buying stock in ImmunoGen, Intel, Vuzix, eMagin, or Weibo? U.S. patent application filed. -- Mullen Automotive , ein Hersteller von Elektrofahrzeugen, teilte am Montag mit, dass seine Einheit, Mullen Advanced Energy Operations, mit der Ausfhrung eines Auftrags im Wert von 680.000 Dollar. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. Image: Bollinger. In another indication of large investors lack of confidence in the automaker, several such investors have been given the right to sell large shares in exchange for a relatively paltry sum. Mullen Advanced Energy Operations is a 51%-owned subsidiary of Mullen Automotive with EV Technologies, LLC and Global EV Technology, Inc. as partners. 8th, 2023 - Mullen Campus Delivery Utility EVs Moved to the Finished Goods Lot - Ready for Customer Delivery, Mishawaka, IN - Mullen FIVE and Bollinger, Tunica, Mississippi - Advanced Manufacturing, Mullen executive team at Tunica, MS. facility in 2021, Located 100 miles East of Chicago and 200 miles West of Detroit, 120,000 sq. PTOP Previous testing indicates that Energy Management Module (EMM”) technology substantially increases the driving range and efficiency of any current EV battery. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. PSYC Thinking about buying stock in Nio, ConocoPhillips, Carnival, American Airlines, or Best Buy. Look no further, as we present to you a 2021 Tesla Model 3 Standard Plus, in beautiful white. BREA, Calif., April 24, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (Mullen” or the Company”), an emerging electric vehicle (EV”) manufacturer, announces that its majority owned subsidiary, Mullen Advanced Energy Operations (MAEO”), will today begin execution of a $680,000 contract that was previously awarded by the District of Columbia, Washington, D.C., to EV Technologies, LLC. Mullen's rival Tesla (TSLA) has seen its stock drop 68.16% YTD. Oct 21, 2022, 11:00 ET. Soon trading and stocks consumed his every waking moment to the point of excluding all else. For more information, please visit. The stock was up 9.23% at 11 . (Note: You may have to copy this link into your browser then press the [ENTER] key.). The I-GO is Mullen Automotives urban commercial delivery vehicle, designed to navigate space constraints in dense cities throughout Europe. With Newgates help, Mullen could make a significant dent in the European EV industry next year. Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment. Only $200 per official company press release! Mullen (NASDAQ: MULN) is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions and electric vehicles. The vote is delayed from the December vote, which failed to meet quorum requirements. Consumer Discretionary, Automotive, Electric Vehicles. Mullen Automotive (NASDAQ: MULN) stock is up almost 10% today after the electric vehicle company provided a positive update on its Energy Management Module (EMM) deal with the District of Columbia . There are numerous catalysts in the works for Mullen Automotive at this time but the most important may be the upcoming shareholder vote. Post a Job. Ultimately, the reverse split will dilute shareholder value and provide the company access to cash without tapping into the debt market. The Company has requested certain van modifications in support of their anticipated use. Article printed from InvestorPlace Media, https://investorplace.com/2022/12/muln-stock-the-case-for-mullen-hitting-1-in-2023/. 2022 has been an exceptional year for us so far; I am very proud of the immense effort by the Mullen team. www.MullenUSA.com, InvestorBrandNetwork (IBN) MULN stock looks oversold as Mullen jumps headfirst into last-mile delivery vehicles. 28 reviews of Board of Provo "Much better than Zumies which is your other choice for your board needs in the Provo area. How to Invest in the Top Grocery Stocks for This Year, Best Bank Stocks to Invest in Ahead of Rising Interest Rates, Lucid Group, Inc. (NASDAQ:LCID) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank, 10 E-commerce Stocks to Consider for Long-Term Buys, United Parcel Service Delivers A Warning To The Market, Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, First Republic up in air as regulators juggle bank's fate, Stock market today: Tokyo gains, most Asian markets closed, 'Super Mario Bros. Movie' hits $1B, is No. Thats despite Rivian holding $11.6 billion in cash, as of the end of its most recent quarter. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on and Mullen Automotive wasn't on the list. To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link. He has been employed by The Fly and Israels largest business newspaper, Globes. dvelopper et amliorer nos produits et services. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullens plans and expectations as of any subsequent date. ILUS The Mullen Automotive story is as long as any in the EV market but really begins in early 2022 following the completion of its reverse merger and IPO raising money for operations. (844) 978-6257. I will explore each of these points in more detail in the paragraphs below. If youre prepared to take a chance on Mullen with a small share position, consider buying now. In March 2021, Element Materials Technology conducted specific vehicle testing on 2020 Chevy Bolts installed with EMM units with test results being a calculated increase in range from 269 to 431 miles, which is a 60% increase in efficiency. EMM technology is being integrated into final stages of product development and is planned to be introduced in all Mullen commercial and consumer vehicle programs. All rights reserved. It is easy to see on the weekly chart; it put a bottom in the market as well, a bottom that was hit later in the year and is so far confirmed.
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