Mullen Technologies is a North American EV company that has captured investor interest after its strong monthly trading performance. The MULN Stock Forecast was very different two months ago, as the companies stock continued to fall following its IPO on the NASDAQ. Headquartered in California, Mullen plans to manufacture its Electric Vehicle technology end-to-end, even developing its own solid-state polymer battery technology.
The company began trading on the NASDAQ on November 5, and has since seen a brutal 75% decline in its trading price. Unfortunately, the timing of its entry into the market was undesirable as many Electric Vehicle start ups were hammered on wider market sell-offs. In this article, we explore the MULN Stock Forecast in 2022 and beyond.
Why is Mullen Technology Stock Rallying?
The stocks recent rally now reaches peaks of $2.90, bouncing back from $0.60 lows seen in early February. So why the boost in confidence amidst wider market concerns? More recently, Mullen released positive data regarding their solid-state polymer battery technology. The company noted the data illustrates a “significant advancement over today’s current lithium-ion batteries”.
“We’ve 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.”said David Michery, CEO and chairman of Mullen Automotive.
When will Mullen start deliveries?
Based on the companies current forecasts, the Mullen FIVE model will likely not hit the market until 2024. However, Mullen is also developing EV Cargo Vans, the Mullen ONE, which is expected to begin deliveries in Q2 according to a recent shareholder letter. Based on the little coverage on Wallstreet to date, the companies outlook on revenues remains unknown at this stage.
MULN Stock Forecast: Mullen Expands Partnerships in 2022
Mullen Technologies have 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.
Management sees these strategic developments as key in bringing the FIVE to market with the latest technology and in the shortest 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.
MULN Stock Forecast: Why a rally is crucial
Following the companies steep downtrend in 2021, MULN stock needs to remain above the $1 mark for obvious reasons. When a companies stock falls below the $1 mark, the NASDAQ can impose its minimum bid requirement ruling, which gives the NASDAQ the ability to delist a stock.
The minimum bid requirement by the NASDAQ, serves as a “safeguard against certain market activities associated with low-priced securities, and protects the credibility of the NASDAQ”. Overall, Nasdaq imposes multiple rules on listings including minimum bids, quantitative requirements and peer review requirements. You can read more about these rules here.
While MULN stock remains above the $1 mark at this stage, this is something investors should be aware of if Mullen Stock finds its way below that mark in the future.
The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
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