If are You searching for any EV Penny stock then you are right place. here I will be talking about Mullen Automotive Stock Price Prediction 2023,2025,2030, Muln Stock forecast.
About Mullen Automotive Stock
|Headquarters of Mullen Automotive||Brea, California, US|
|CEO of Mullen||David Michery|
|52 Week High||15.25 USD|
|52 Week Low||0.10 USD|
The next generation of premium electric vehicles (EVs), which are accessible and wholly made in the United States, is being produced by Southern California-based automaker Mullen Automotive. Customers have been supported through every stage of EV ownership thanks to an end-to-end ecosystem that helps owners with everything from finance and servicing to test drives and financing.
The Mullen FIVE, the company’s first electric crossover, will be delivered in 2024. It has an award-winning design and its unique PERSONA technology, which uses facial recognition to customize each driver’s driving experience.
To learn more about the company, visit Mullen
Mullen Automotive Situation 2023
Mullen Automotive, Inc. (MULN – Get Rating), once a popular meme stock contender, has seen its shares plummet over 99% in the last year. The stock has dropped by 64% in the last month alone, and it is currently trading at its 52-week low of $0.10 on July 5, 2023.
Despite MULN’s efforts to demonstrate its development potential in the EV business and build investor excitement through partnerships and product launches, the stock continues to fall.
MULN proposed a 1-for-100 reverse stock split in its filing with the Securities and Exchange Commission (SEC) to meet Nasdaq’s bid requirement and improve its stock price, which has continuously traded below $1. This follows a 1-for-25 reverse stock split that occurred in May.
Mullen Automotive’s financial status is currently questionable, and investors should exercise caution and avoid engagement with this stock until the situation clears up.
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Mullen Automotive Stock Risks
Mullen automotive Stock value has been down more than 97% from its all-time high. It is not a good sign; it seems so risky. Let’s See what challenges the company faces now and what are company taking steps to recover stock.
Following the company’s successful completion of the acquisition of Electric Last Mile Solutions last week, MULN’s share price fell to a record low. It invested around $105 million to purchase the business after it declared bankruptcy. Bollinger, an EV business that specializes in buses, was also purchased by the business for $148 million.
There are indications that the acquisitions nearly failed given Mullen’s market worth of $339 million. However, Mullen’s biggest problem is that its cash burn will keep rising in the upcoming years. The corporation had $61 million in cash and short-term investments at the end of the previous quarter. It burns through cash at a rate of roughly $18.3 million per quarter.
Therefore, when the company transitions to the vehicle production phase of its operations, investors should anticipate further dilution in the upcoming months.
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Mullen Automotive Stock Price Prediction 2023 | Muln Stock Forecast 2023
In the current EV market, there is a lot of competition from companies like Tesla, Nio Stock, Rivian Stock, and Lucid Motor. MULN stock, however, has fallen so drastically in price that it now appears to be an unbeatable deal. Due to Mullen’s aggressive entry into the last-mile delivery EV market and ongoing debt reduction efforts Mullen Automotive Stock Price Prediction 2023, Muln Stock forecast 2023 will trade between 0.30 USD to 0.50 USD.
|Muln Stock forecast 2023||Min Target- 0.30 USD, Max Target- 0.50 USD|
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Mullen Automotive Stock Price Prediction 2025 | Muln Stock Forecast 2025
Mullen Automotive is tremendously ambitious as it expands into Europe, reduces debt, and buys an EV last-mile delivery startup. In 2023, Mullen will undoubtedly be a fierce rival.
Therefore, it is possible that Mullen Automotive Stock Price Prediction 2025, Muln Stock forecast 2025 will reach $1.30 to $2.30 in the upcoming years.
|Muln Stock forecast 2025||Min Target- $1.30, Max Target- $2.30|
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Mullen Automotive Stock FAQ
What is 52 Week’s low of Mullen Automotive Stock?
0.10 USD is 52 weeks low of Mullen Automotive Stock.
What is 52 Week’s High of Mullen Automotive Stock?
15.25 USD is 52 weeks’ high of Mullen Automotive Stock.
Note– Investment in penny stocks is not for everyone. Only invest what you can afford to lose because it is quite dangerous. This article does not offer any investment advice; it is intended for educational purposes. Please speak with your financial advisor before purchasing any stocks.
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