web analytics
13.3 C
Munich
Sunday, September 25, 2022

Mullen Automotive Inc (NASDAQ: MULN) Under Accumulation as EV Innovator behind the Mullen FIVE Makes Powerful Reversal Northbound

Mullen Automotive Inc (NASDAQ: MULN) continues to move northbound with power averaging between $500 and $1.5 billion in daily dollar volume and is easily among the top few most exciting stocks in small caps today. Shorted into oblivion by an overzealous short selling campaign that decimated the share price to lows of 0.52 in February just before Mullen reported that testing on its solid-state polymer cells reveals the potential for a 150-kilowatt-hour battery pack that delivers over 600-plus miles of range, a quantum leap over current lithium-ion battery systems. The shorts may not have anticipated that many of the same traders involved in the Gamestop and AMC massive short squeezes would find MULN but they have and MULN has been rocketing northbound ever since. Analysts have recently pegged MULN at $23 within 12 months and the Company states they are looking for a $2 billion market valuation short term. MULN is getting noticed big time here and many big names in small caps are heavily accumulating the stock here. The word is getting out too with Mullen recently featured on CarBuzz, the world’s premier car-related news site with over 9 million monthly visits as well as Yahoo Finance Live with nearly 100 million unique monthly visitors. Currently Mullen has just 34.9 million shares outstanding and is trading at a low market valuation of $108.5 million however this share count will increase significantly as the Company has convertible debt on the books and continues to seek out convertible debt-based financing. Also Mullen has not accomplished much yet commercially and will continue to need more funds especially as they vamp up their R&D efforts focused on battery development.  

Mullen made an enormous announcement when the Company reported on February 28 that Data collected from its solid-state cell testing shows a range of 600-plus miles on a full charge and over 300 miles of range delivered in 18 minutes with DC fast charging. Solid-state polymer batteries are slated for the second generation of the Mullen FIVE EV Crossover. This represents a quantum leap over current lithium-ion battery systems.  Mullen has also recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. Since going public and initially skyrocketing to $16 Mullen has been executing on its business plan; they purchased an advanced manufacturing and engineering center with plans to build out another 1.2 million square feet of manufacturing space, they increased their reservation limit for the Mullen FIVE EV Crossover to 25,000 reservations proving they are ready to sell over 25,000 vehicles, they announced they are on track to start delivery of their vans Fleet in Q2, 2022 which will bring in some $60 million in short term revenues, they announced partnerships with ARRK, DURR and DSA and a partnership with Comau to develop a body shop for the MULN EV.  

Mullen Automotive Inc (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. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. 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. Recently, MULN acquired a 124,700 sq ft facility in Tunica, Mississippi which now serves as their headquarters. Mullen is working on an expansion of an additional 1.2M sq ft.  

Mullens flagship, the Mullen FIVE represents Mullen Automotive’s entry into the full-electric, mid-size luxury SUV market. The Mullen FIVE has a sleek, sexy design and is competitively priced starting at $55,000 – for the United States market and is expected to be available in the fourth quarter of 2024. The Mullen FIVE is expected to deliver an electric range up to 325 miles, will reach 0 to 60 in 3.2 seconds with a max speed of 155 miles per hour. The Mullen FIVE also delivers fast charge times from 0 to 80% (260 miles of range) in just 21 minutes. Level 2.5 Advanced Driver Assistance System. U.S. Designed, Engineered & Manufactured Pure Electric Vehicle. Luxury interiors with customizable seating configurations and Multi LED intelligent LIVE screen technology that listens and reacts.  

The Mullen FIVE is built on an EV Crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is Strikingly DifferentTM. The FIVE debuted at the LA International Auto Show in mid-November and was awarded the LA Auto Show’s ZEVAS Award for the “Top SUV Zero Emission Vehicle (ZEV)” easily beating out both the Rivian R1S and Lincoln Aviator Grand Touring. MULN CEO David Michery stated at the time: “The FIVE is a very competitive EV that was able to go up against an impressive set of competitors, including both legacy brands and exciting new startups. The fact that so many people voted for the FIVE, helping us beat the other finalists, the Rivian R1S and the Lincoln Aviator Grand Touring, by a huge margin to win this award is a tremendous testament to what we are trying to accomplish.”  

To Find out the inside Scoop on MULN Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

MULN

Mullen recently made an enormous announcement when the Company reported on February 28 that Data collected from its solid-state cell testing shows a range of 600-plus miles on a full charge and over 300 miles of range delivered in 18 minutes with DC fast charging. Solid-state polymer batteries are slated for the second generation of the Mullen FIVE EV Crossover. This represents an enormous breakthrough innovation and a significant advancement over today’s current lithium-Ion batteries. The Company’s CEO David Michery stated Mullen has conducted successful testing and will begin pack level development next. The test data collected shows an impressive outcome and future for solid-state batteries. To sum up, we tested our 300 Ah (ampere hour) cell which yielded 343 Ah at 4.3 volts, and the results surpassed all expectations. We can say with almost certainty that this technology, once implemented on the Mullen FIVE, will deliver over 600 miles of range on a full charge. The future is bright for Mullen Automotive. 

Mullen is also conducting extensive research and development into other advanced battery technologies, including lithium-sulfur and lithium-iron-phosphate. Mullen’s ultimate goal is to deliver EV batteries that will surpass today’s existing lithium-Ion technology and offer a host of benefits such as increased efficiency, energy density, and range while also lowering the cost, weight, thermal and environmental risks. 

On March 14 Mullen reported it was featured on CarBuzz where the Company’s CEO David Michery and Vice President-Mechanical Systems Marian Petrelecan discussed the FIVE EV Crossover, retail market strategy and manufacturing plans. With over 9 million monthly visits, CarBuzz is the world’s premier car-related news site and app that covers the industry’s latest happenings in the world of automakers, sports cars, muscle cars, supercars, trucks, SUVs, off-roading and everything in between. 

Mullen also has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and in least amount of time. Mullen FIVE was also named “Top Zero Emission SUV” as part of the ZEVA® Awards at the Los Angeles International Auto Show in November 2021, where it made its debut. The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly DifferentTM” and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com. 

Microcapdialy first reported on MULN on April 13 when the stock was $1.35 stating at the time: “Mullen Automotive Inc (NASDAQ: MULN) is probably the most exciting story in small caps and the most explosive as the stock is sitting at just over $1 on massive volume and interest from Investors. MULN went public via a reverse merger with a blank check Company in November 2021 in a successful IPO which saw the stock rocket to highs of $16 shortly after going public. Since then, the stock has been subject to a massive short selling campaign that has decimated the share price of MULN to lows of 0.52 in February just before the Company reported that testing on its solid-state polymer cells reveals the potential for a 150-kilowatt-hour battery pack that delivers over 600-plus miles of range, a significant advancement over today’s current lithium-Ion batteries. The shorts may not have anticipated that many of the same traders involved in the Gamestop and AMC massive short squeezes would find MULN at $1 but they have and its game on now. The volume is incredible with MULN regularly trading between $100 million and $500 million in dollar volume and the Company has a total market valuation of just $47 million with at least 3.7 million shares MULN sold short already. 

 For More on MULN Subscribe Right Now

Currently trading at a $108 million market valuation MULN has little assets; the Company’s building is worth around $8 million and they recently completed the $12,000,000 purchase of the Tunica County, MS property including a 127,400sf EV manufacturing facility which they plan to expand to 1.2 million sf. Mullen also has a $15 million note receivable from the CEOcast warrants. In the most recent 10Q MULN reported notes payable (current portion) of $18.9 million, and total liabilities worth $55 million. But this is an exciting story developing in small caps; Mullen has experienced rapid growth, acquiring a number of other car brands in the past, which made MULN what it is today. CODA Energy was acquired in 2017, CarHub was acquired in 2018, and the acquisition of Net Element was announced in 2020. Mullen’s flagship, the Mullen FIVE represents Mullen Automotive’s entry into the full-electric, mid-size luxury SUV market. With a sleek and sexy design, the Mullen FIVE debuted at the LA International Auto Show in mid-November and was awarded the LA Auto Show’s ZEVAS Award for the “Top SUV Zero Emission Vehicle (ZEV)” easily beating out both the Rivian R1S and Lincoln Aviator Grand Touring. Recently, Mullen achieved a quantum leap over current lithium-ion battery systems; data collected from its solid-state cell testing shows a range of 600-plus miles on a full charge and over 300 miles of range delivered in 18 minutes with DC fast charging. MULN also has a huge international following of investors, massive liquidity, a severely depressed stock price caused by an overzealous short selling campaign that decimated the share price, major momentum and a significant gap to fill from current levels as MULN traded as high as $16 after its NASDAQ ipo in early November 2021. We will be updating on MULN when more details emerge so make sure you are subscribed to Microcapdaily. 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.