SimonSkafar
If you believe that electric vehicles (EV) are the future, a potential stock to consider is Mullen Automotive, Inc. (NASDAQ:MULN), an EV company that has excited many investors this last week. The stock price jumped by 58.33% in the
Mullen Automotive: Excitement Is Building Around This Micro-Cap EV Stock
Summary
- Over the last 5 days Mullen Automotive's stock price has increased by 58.33%.
- Stock market has responded well to a $240 million cash acquisition of bankrupt Electric Last Mile; gaining an active manufacturing plant and assets which could speed up production.
- The company announced that its new CCO will be a former General Motors exec, John Schwegman, along with onboarding former Tesla staff.
- Electric vehicle companies are benefiting from the Inflation Reduction Act through tax credits and other incentives.
- Fiercely competitive and evolving market, MULN is incurring heavy losses, requires ongoing large sums of capital for business plans, and investors have to bet on futures rather than historic performance.
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