Hot Off the Press: Mullen Automotive (NASDAQ: MULN) Secures More EV Orders from UVA

Immediately Start Your Research on Mullen Automotive (NASDAQ: MULN)! Mullen Automotive (NASDAQ: MULN) Comes Stacked with Potential  Near Term Catalysts Like: Technical Indicators: Mullen Automotive (NASDAQ: MULN) Could Be in a Severely Oversold State, With RSI Levels Suggesting A Potential Trend Reversal! Low Float: With 11.5M - 22M Shares Available, Mullen Automotive (NASDAQ: MULN) Could See Significant Price Movements If Demand Shifts Due To Limited Availability, Potentially Attracting Short-Term Attention! Higher Potential For Growth: As a Nano-Cap Company With A Market Cap Under $16M, Mullen Automotive Shows a Higher Potential For Growth Compared To Larger Companies! Potential Short Squeeze: With a Low Float and the Possibility of Significant Price Movements, Mullen Automotive Could Be Positioned For A Potential Short Squeeze, Amplifying Volatility In The Short Term! Substantial Asset Base Overlooked: With Assets Expected to Reach $191.4M By Mid-2024 and a Market Cap Under $16M, Mullen Automotive Seems Severely Overlooked! Make Sure Mullen Automotive (NASDAQ: MULN) is #1 on  This Morning’s Watchlist! August 12, 2024 Dear Reader, Mullen Automotive (NASDAQ: MULN) has strengthened its partnership with the University of Virginia through an additional order of electric vehicles.  Following an initial purchase in 2023 and a recent $7.7M deal with Eco Auto, this latest development underscores the growing demand for Mullen’s eco-friendly solutions in higher education.  As universities increasingly prioritize sustainability, Mullen is emerging as a key player in the transition to electric transportation. Get the full story here. After the streak we’ve been on, totaling approximately 1,063% across our recent profiles, I expect all eyes to be on Mullen Automotive (NASDAQ: MULN) early this morning. Similar to Friday’s profile that just came off a new 52-week low, technical analysis suggests that Mullen Automotive (NASDAQ: MULN), also coming off of a new 52-week low of around $.60, could also be in a severely oversold state.  With RSI levels at 9-Day: 16.42%, 14-Day: 19.26%, and 20-Day: 24.70%, there are strong indications of a potential trend reversal. But this is where it gets interesting… Because it appears the short interest in Mullen Automotive (NASDAQ: MULN) has been increasing and according to several research sites, like Fintel, there’s not much time left for the shorts to cover: Short Interest: 3,541,661 shares - source: NASDAQ Short Interest Ratio: 0.24 Days to Cover Short Interest % FloatL 14.73 % - source: NASDAQ (short interest), Capital IQ (float) Off-Exchange Short Volume: 10,938,328 shares - source: FINRA (inc. Dark Pool volume) Off-Exchange Short Volume Ratio: 57.41 % - source: FINRA (inc. Dark Pool volume) This gets even more interesting when you factor in the size of Mullen Automotive (NASDAQ: MULN)’s float which is estimated to be around 11.5M to 22M depending on the source. Meaning, Mullen Automotive (NASDAQ: MULN) could experience significant price movements if demand begins to shift, due to limited availability, which could attract attention in the short term. Not to mention, Mullen Automotive (NASDAQ: MULN) has a market cap under $16M, indicating a higher potential for growth compared to mid-cap or large-cap companies. But there’s something else that needs your attention. You see, Mullen Automotive (NASDAQ: MULN)’s total assets are expected to be approximately $191.4M as of June 30, 2024, and will be reported in the company’s quarterly report to be filed on or about Aug. 12, 2024. Yes, you read that right… With a market cap of around $16M, Mullen Automotive (NASDAQ: MULN) is expected to report total assets of approximately $191.4M. How’s that for being overlooked? Now keep reading to see why Mullen Automotive (NASDAQ: MULN) needs to be #1 on this morning’s watchlist. Mullen Automotive (NASDAQ: MULN) is making significant strides in the rapidly evolving electric vehicle (EV) market. Headquartered in Southern California, Mullen is dedicated to building the next generation of commercial electric vehicles with a strong manufacturing presence in the United States.  With two state-of-the-art vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana, the company is well-positioned to lead the charge in the commercial EV space. Expanding Production and Regulatory Approvals August 2023 marked a milestone for Mullen as it began commercial vehicle production at its Tunica, Mississippi plant. This 120,000 square foot facility is now fully operational, paving the way for the production of Mullen’s innovative Class 1 and Class 3 EVs. The company’s Mishawaka plant, a 650,000 square foot facility, further bolsters Mullen’s production capacity, ensuring that the company can meet growing demand. Mullen Automotive (NASDAQ: MULN)’s commitment to regulatory compliance has also paid off. In September 2023, the company received IRS approval for federal EV tax credits on its commercial vehicles, which includes a Qualified Manufacturer designation. This approval allows eligible customers to receive up to $7,500 per vehicle, making Mullen’s offerings even more attractive to fleet operators. By January 2024, Mullen had achieved California Air Resource Board (CARB) and EPA certifications for its Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck. These certifications are a testament to Mullen’s adherence to the highest environmental and safety standards. Moreover, the CARB recently issued HVIP approval for the Mullen THREE, providing up to a $45K ca-sh voucher at the time of purchase. This incentive significantly reduces the cost of acquisition for fleet operators, further enhancing the appeal of Mullen’s EVs in the competitive market. Strategic Dealer Network Expansion Mullen Automotive (NASDAQ: MULN)’s recent developments in expanding its commercial dealer network underscore its commitment to broadening its market reach. The addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, and Eco Auto has strengthened Mullen’s presence across key regions in the Midwest, West Coast, Pacific Northwest, and New England. These partnerships ensure that Mullen’s commercial vehicles are accessible to a wide range of customers, providing comprehensive sales and service coverage in critical markets. Operational Milestones Mullen Automotive (NASDAQ: MULN)’s CEO recently provided a company update, highlighting significant financial achievements and operational milestones. As of June 30, 2024, the company’s total assets are expected to be approximately $191.4M, a strong indicator of Mullen’s solid financial foundation. Notably, the company’s ca-sh position exceeds its current market capitalization, underscoring its financial resilience and potential for future growth. Mullen’s regulatory achievements are particularly noteworthy. The company has met all federal and state regulatory requirements for its Class 1 and Class 3 commercial vehicles, and it is actively manufacturing and selling these vehicles across the United States. This regulatory compliance, combined with state-level incentives, positions Mullen to capitalize on the growing demand for commercial EVs. In addition to its financial and regulatory successes, Mullen has secured $250M in new financing commitments. This substantial financial backing will enable the company to accelerate its growth plans, including the expansion of its dealer network and the development of new technologies. Mullen’s strategic focus on innovation is further evidenced by its advancements in solid-state polymer battery technology, with full certification expected by the second half of 2025. Expanding Market Reach and Customer Base Mullen’s recent announcement of its partnership with Eco Auto, a dedicated EV dealer, is a significant step in expanding its market reach. Eco Auto’s expansion into key East Coast markets, including Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine, and Vermont, will help meet the growing demand for commercial EVs in these regions. Eco Auto’s purchase of 180 commercial EVs from Mullen, valued at $7.7M, underscores the strong market response to Mullen’s product line. This partnership is part of Mullen’s broader strategy to increase its footprint in the commercial EV market. The company is actively engaged in negotiations with major telecoms, large fleet providers, delivery companies, universities, local municipalities, government agencies, and airport service providers. These efforts are expected to drive significant growth in Mullen’s customer base and market share. Looking Ahead: Innovation and Growth Mullen Automotive’s achievements over the past year are a testament to the company’s commitment to innovation, operational excellence, and strategic growth. With a strong financial foundation, an expanding dealer network, and a robust lineup of commercial EVs, Mullen is well-positioned to continue its upward trajectory. The company’s focus on developing advanced technologies, such as solid-state polymer batteries, demonstrates its long-term vision for the future of electric vehicles. As Mullen continues to innovate and expand its market reach, it is poised to become a leading player in the commercial EV industry. Mullen Automotive (NASDAQ: MULN) is not just keeping pace with the evolving EV market—it’s setting the standard. With a clear vision, strategic partnerships, and a commitment to sustainability, Mullen is driving the future of commercial electric vehicles, offering a compelling value proposition for customers and industry stakeholders alike. 7 reason why Mullen Automotive (NASDAQ: MULN) needs to  #1 be on this morning’s watchlist…  1. Technical Indicators: Technical analysis reveals Mullen Automotive (NASDAQ: MULN) could be in a severely oversold state, with RSI levels indicating a potential trend reversal.  2. Low Float: With between 11.5M - 22M shares available, Mullen Automotive (NASDAQ: MULN) could experience significant price movements if demand begins to shift, due to limited availability, which could attract major attention in the short term. 3. Higher Potential for Growth: As a company with a market cap under $16M, Mullen Automotive (NASDAQ: MULN) is a nano-cap, indicating a higher potential for growth compared to mid-cap or large-cap companies.  4. Substantial Asset Base Overlooked: With total assets expected to reach approximately $191.4M by mid-2024, and a market cap under $16M, Mullen Automotive (NASDAQ: MULN) appears to be severely overlooked. 5. Regulatory Achievements: Mullen has secured crucial certifications like CARB and EPA approvals. These regulatory milestones could lead to news-driven price movements as the market responds to these developments. 6. Innovative Leadership in the EV Market: Mullen Automotive (NASDAQ: MULN)’s cutting-edge position in the commercial EV sector may drive interest among those looking to capitalize on momentum in the fast-growing EV market. 7. Battery Technology Developments: Progress in Mullen Automotive (NASDAQ: MULN)’s solid-state battery technology, though more of a long-term focus, could still prompt short-term interest if significant advancements are announced. With Mullen Automotive (NASDAQ: MULN) showing signs of being severely oversold, coupled with a limited share float, the potential for rapid price shifts is more apparent than ever. This nano-cap company's robust asset base and recent regulatory milestones set the stage for significant market activity.  As Mullen Automotive (NASDAQ: MULN) continues to expand its dealer network and solidify its position in the EV market, short-term developments are likely on the horizon.  Now is the time to pull up Mullen Automotive (NASDAQ: MULN) and start your research. I’ll check back in with you shortly. Sincerely, Gary Silver Managing Editor, MarketCrux MarketCrux (MarketCrux . com) is owned by Headline Media LLC, a limited liability company. Disclosure: I am not a lice.nsed finan.cial adviser. Make sure to always do your own research and due diligence on any day and swing profile I bring to your attention. MarketCrux full disclosure is to be read and fully understood before using MarketCrux website, or joining MarketCrux's email or text list. By viewing MarketCrux website and/or reading MarketCrux email or text newsletter you are agreeing to MarketCrux full disclosure which can be read at marketcrux.com/disclaimer  Pursuant to an agreement between Headline Media LLC and TD Media LLC, Headline Media LLC has been hired for a period beginning on 08/11/2024 and ending on 08/12/2024 to publicly disseminate information about (MULN:US) via digital communications. Headline Media LLC has been paid seven thousand five hundred USD to disseminate information about (MULN:US) via digital communications. We own zero shares of (MULN:US). Please see important disclosure information here: https://marketcrux.com/muln-disclosure-7164/

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