Mullen Automotive Inc. (NASDAQ: MULN) has emerged as a significant player and is among the most closely watched stocks in the market. Despite a slew of notable achievements and a strong presence on the NASDAQ, MULN shares have taken a steep nosedive in value this year. These developments have prompted CEO and chairman David Michery to take decisive action.

Concerned about potential illegal short selling activities, the company has initiated an investigation, enlisting the expertise of Share Intel and esteemed law firms such as Christian Attar and Warshaw Burstein.

This lawsuit not only aims to safeguard the company’s interests but also sends a resounding message: Mullen Automotive has a zero-tolerance stance against manipulative trading practices. As investors, the question on our minds is: Is now the right time to buy MULN shares?

MULN Stock Price and Developments Timeline

MULN shares exhibited strength in May, maintaining a price above $1 for 12 consecutive days, a positive sign for investors. The CEO’s proactive extension filing indicated confidence that the SEC wouldn’t enforce the 20-day delisting rule.

What’s truly catching attention is Mullen’s firm stance against illegal naked shorting, leading to legal action against TD and SCHWAB.

They’re preparing for an appeal, with potential SEC support until December, reducing delisting concerns. Anticipated production growth may push the stock past $1 this month.

Remarkably, Mullen’s removal from the delisting notice signals a potential turnaround. The CEO’s proactive measures and legal actions against illegal shorting, the extension filed, and the potential appeal all indicate a determined effort to protect shareholder interests.

The fact that Mullen shares held above $1 for 12 days in May offers a glimmer of hope for those eyeing the stock.

With production ramping up and the looming possibility of crossing the $1 threshold this month, the risk of delisting by December appears to be diminishing for MULN share.

Electric Truck Order Signals Growth Potential for MULN Shares

The recent announcement of Mullen receiving a multiunit vehicle purchase order from NRTC Automation Group signals a promising development for MULN shares.

This order for three all-electric commercial class 3 Mullen trucks, scheduled for delivery in Q4 2023, reflects the growing interest in Mullen’s innovative offerings.

Alabama-based NRTC Automation Group, known for its turnkey automation and manufacturing solutions, expressed enthusiasm about the Mullen THREE.

This efficient class 3 low-cab, forward EV truck boasts impressive features such as an 11,000 gross vehicle weight rating, excellent maneuverability with a 38-foot turning diameter, and the ability to accommodate payloads exceeding 5,800 pounds.

NRTC’s firsthand experience with the Mullen THREE during a recent test drive has further strengthened their confidence in the vehicle’s suitability for various applications.

This purchase order underscores Mullen’s commitment to providing solutions in the EV sector, aligning with the industry’s growing trend toward eco-friendly alternatives.

Considering this positive development and the increasing adoption of electric vehicles, investing in MULN shares at this stage could be a strategic move for those seeking exposure to the burgeoning EV market.

However, as with any investment, thorough research and risk assessment are essential before making a decision about Mullen shares.

Conclusion

Amid the turbulence of MULN shares, one thing is abundantly clear: uncertainty prevails despite all positive signals. CEO David Michery’s resolute actions against manipulative trading practices signify the company fiercely defending its interests.

Similarly, the recent order from NRTC Automation Group demonstrates growth potential, riding the wave of electric vehicle adoption. Yet, the road ahead remains uncertain.

MULN’s narrative is simultaneously surrounded by hope and challenges. The CEO’s proactive measures and legal actions inspire confidence, but prudence dictates thorough research and risk assessment.

Mullen shares are at an inflection point, with production gains and a decreasing delisting risk, making it an intriguing prospect.

Frequently Asked Questions

Will MULN Stock Be Delisted?

The risk of MULN stock being delisted appears to be diminishing due to proactive measures, legal actions against illegal shorting, and the potential for SEC support until December.

Will MULN Stock Reverse Split?

It is likely for MULN to pursue a reverse split to avoid delisting from NASDAQ and meet the minimum share price requirements due to its low stock price. This, however, will depend on what the board of directors agree upon.

Is MULN Stock Shorted?

MULN is indeed shorted, with a short float of nearly 10%, indicating significant bearish sentiment among investors. This suggests potential downward pressure on the stock price.

What Is MULN Stock?

MULN stock is the stock of Mullen Automotive Inc., known for its rollercoaster journey as an emerging, American EV manufacturer and a meme stock during the COVID-19 pandemic, with debates surrounding its true potential and current market sentiment.

What Is MULN, And What Does the Company Do?

MULN is Mullen Automotive, an American electric vehicle manufacturer.

What Factors Should I Consider When Evaluating Whether to Buy MULN Shares?

Factors to consider include the company’s financial health, its product roadmap, and the overall outlook for the electric vehicle market.

Has MULN’s Stock Price Been Showing Any Recent Trends or Patterns That I Should Be Aware Of?

MULN’s stock price has been volatile in recent months, but it has been trending upwards in the past few days.

Are There Any Recent Developments or News Related To MULN That Could Impact Its Stock Price?

There have been a few recent developments related to MULN, such as the announcement of new vehicle orders and the lawsuit filing against naked shorters. These could impact the stock price positively.

How Does MULN Compare to Its Competitors in The Electric Vehicle Industry?

MULN is a relatively new company in the electric vehicle industry, and it faces competition from established players like Tesla and Ford.

What Is the Current Financial Health and Performance of MULN As a Company?

MULN’s financial health is not strong, and the company has been losing money. This is a potential risk for investors.

Are There Any Potential Risks or Challenges Associated with Investing in MULN Shares?

Yes, there are a few potential risks associated with investing in MULN shares, including the company’s financial health, its competitive landscape, and the overall volatility of the electric vehicle market.

What Are Experts or Analysts Saying About MULN’s Growth Prospects and Future Potential?

Analysts are generally positive about MULN’s growth prospects, but they also caution that the company faces significant challenges.

Has MULN Taken Any Strategic Actions or Initiatives That Could Affect Its Stock Value Positively or Negatively?

Yes, MULN has taken some strategic actions that could affect its stock value positively, such as entering into partnerships with other companies and developing new products.

In Light of Recent Events, What Is the Outlook for MULN Shares In The Near And Long Term?

The outlook for MULN shares in the near and long term is uncertain. The company faces many challenges, but it also has some potential growth opportunities.