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Thursday, May 19, 2022

Mullen Automotive Inc (MULN) stock remained in the green during pre-market. Here’s why

Mullen Automotive Inc (MULN) stock followed a bullish trend in the regularly traded session as well as the pre-market session. MULN stock closed the regularly traded session at the value of $3.03 after gaining 28.94% from the previously traded session. Moreover, on the last check, the stock remained in the green during the pre-market and added 7.59% to $3.26 per share. The stock of MULN soared after an encouraging interview by the CEO of the firm. Also, MULN declared a strong financial position on the balance sheet. The firm also filed form S-3 with the SEC on 28 March 2022.

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Mullen Automotive Inc is an EV maker. The organization works in different verticals of organizations centered inside the auto business. Currently, MULN has a market cap of $105.87 million. The firm has its headquarters in Brea, California, USA.


On 30 March 2021, the CEO showed up on a Benzinga YouTube show after which the stock skyrocketed. The CEO of MULN, David Michery, declared that a significant Fortune 500 organization is buying freight vans in the forthcoming Q2.

Prior to this interview, on 28 March 2022, MULN declared it anticipates reporting in the abundance of $65 million in cash and cash reciprocals in Q2 of FY2022. The firm published this increase in the Form 10-Q filed with the SEC. The CEO of MULN commented that they have gained gigantic headway in key regions throughout recent months. He further added that currently, the firm has the most solid financial position in history.

Mullen has declared a line of key associations with Hofer powertrain, Comau, ARRK, Dürr, and DSA Systems. The agreements with the key companies will focus on EV powertrain, designing, development, automotive creation frameworks, Over the Air (OTA), and automobile diagnostics. The organization anticipates that the essential advancements should assume a critical part in putting up EVs for sale to the public with the most recent innovation.


Stockholders are in awe of the subtleties David Michery offered. In the meeting, the CEO offered various updates on the organization’s plan. He affirmed recently expressed plans to offer its class 1 vehicle in Q2 of this current year. He additionally spread out plans to visit the Mullen Five base and RS models.

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