Mullen Automotive Inc. (MULN) Forecast & Price Targets

Jackhackmoney Team
6 Min Read

Mullen Automotive, Inc. announced specifications for, and gave an early glimpse of, their super-high-performance electric crossover, The Five RS. Mullen is a southern California-based car company building the next generation of high-performance electric vehicles (EVs) that are both accessible and built completely in the U.S. Mullens product portfolio also includes fleet EV vans, which it plans to introduce in the second quarter of 2022, and the all-electric, performance sports car, DragonFLY.

A prospective stock to watch is the companys goal of producing EVs at scale in the U.S. A potential stock to consider includes manufacturing and distribution of electronic vehicles. Most recently, it has been recognized as a potential disruptor in the electric vehicle market.

A prospective stock to watch, the California-based company was founded in 2014 by the now CEO David Miery, following acquisitions of CODA Automotive and Mullen Motor Vehicles. MULN already has a plant capable of producing 50,000 EVs per year, and management is focused on growing the business and investing in breakthrough battery advances. Mullen Technologies, Inc. is a U.S.-based manufacturer of passenger cars and electric vehicles, located in Brea, California.

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The company plans to introduce the Mullen Five electric crossover into the market in 2024, with reservations now open here. David Michery has, so far, created 12 trademarks in order to grow The Mullen brand and vision. With all U.S.-based production and operations, David Michery is also determined for Mullen Technologies to play a part in shaping the self-sustaining local economy, creating more jobs within the U.S.

PERSONA, which features facial recognition technology, is designed to give each driver a highly customized in-vehicle experience. The Mullen FIVE, the Companys first electric crossover, is scheduled to deliver in 2024, and features award-winning design and Muellers proprietary PERSONA technology, which uses facial recognition to customize the driving experience for each person.

The milestone comes on the heels of the companys all-stock merger with Net Element Inc. In October 2022, Mullen Technologies purchased bankrupt company ELMS (Electric Last Mile Solutions).

Mullen Automotive (MULN) closed the week on a down note but still managed to post a gain of over 11% for the past five trading days. On Friday, shares of MULN dropped by 3.9% and closed the trading session at a price of $0.52. stocks rallied after a brutal week for big tech sell-offs. Apple (AAPL) surged higher by 7.5% after topping estimates for the third quarter, while Amazon (AMZN) tumbled after providing weaker fourth-quarter guidance. Overall, the Dow Jones added 2.6%, the S&P 500 gained 2.9%, and the Nasdaq rose higher by 2.9% to close the week.

Mullen Automotive stock price

Mullen’s Strikingly Different nationwide tour seems to be off to a hot start. The company reported that pre-orders for Mullen’s FIVE Crossover EV came in better than expected following the first two days of the tour. Mullen has announced that overall pre-orders quadrupled what they were before the tour started following the first stop in Pasadena, California. This is promising for Mullen, and investors will likely be keeping an eye on these pre-order levels as the tour makes its way across America. 

Mullen’s recent successes and acquisitions have landed it as a headlining company in the Cleantech & Climate Change Podcast Report. The company’s recent acquisition of the rights to I-GO’s new Urban Electric Vehicle was the highlight of the report. Mullen has also acquired Bollinger Motors and the assets and production factory of Electric Last Mile Solutions (ELMSQ) as well. 

The author and jackhackmoney are not registered investment advisors and nothing in this article is intended to be investment advice.

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