If you’re looking for an EV penny stock with the potential to skyrocket, you’ve come to the right place.
In this article, we’ll look at the Mullen Automotive stock price prediction for 2024, 2025, and 2030.
Mullen Automotive: Revolutionizing EV Industry with Next-Gen Premium Electric Vehicles
Southern California-based automaker Mullen Automotive is changing the game in the electric vehicle (EV) industry with its innovative end-to-end ecosystem that supports customers at every stage of EV ownership.
The company’s focus is on producing accessible, premium EVs that are entirely made in the United States.
Mullen Automotive’s first electric crossover, the Mullen FIVE, is set to hit the market in 2024.
With its award-winning design and unique PERSONA technology, which uses facial recognition to personalize each driver’s driving experience, the Mullen FIVE is poised to be a game-changer in the EV industry.
Latest Updates about Mullen Automotive:
On December 15, 2022, in BREA, California, an announcement via InvestorWire and Globe Newswire revealed that Randy Marion Isuzu, LLC, a division of the esteemed Randy Marion Automotive Group (RMA), has placed an order with Mullen Automotive, Inc., a promising startup in the electric vehicle industry.
The order is for 6,000 Class 1 EV cargo vans, with a contractual value of nearly $200 million.
RMA has earned a reputation for great quality and service as one of the most respected commercial vehicle dealer groups in the United States.
In this partnership, Mullen Automotive has agreed to provide RMA with its first line of commercial vehicles, which will be sold, serviced, and maintained by RMA.
Source – Nasdaq
It was announced on Thursday, September 8th, 2022, that Mullen has made a major move in the electric truck technology game.
They’ve only gone and acquired a controlling stake in the innovative Bollinger Motors!
Now, this is big news because not only has Mullen entered the medium-duty vehicle classes 3-6, but they’ve also got their hands on the highly sought-after B1 and B2 sport utility trucks.
This is the first time Mullen has ventured into these sectors, and it is certain to cause a stir in the business.
Hold onto your hats, because this acquisition was no small feat – Mullen had to cough up a whopping $148.2 million in cash and stock for a 60% controlling interest in Bollinger Motors, Inc.
But with that kind of investment, Mullen now has the majority ownership of Bollinger and is primed to take over the electric sport utility and commercial vehicle markets.
Mullen Automotive Stock Risks
Mullen Automotive stock value has plummeted more than 97% from its all-time high, which is not a good sign and seems risky.
Let’s take a closer look at the challenges that the company faces and the steps they’re taking to recover their stock.
Last week, Mullen successfully completed the acquisition of Electric Last Mile Solutions, but their share price still fell to a record low.
The business cost Mullen around $105 million after it declared bankruptcy.
On top of that, they also purchased Bollinger, an EV business that specializes in buses, for a whopping $148 million.
Now, here’s where things get interesting – there are indications that the acquisitions nearly failed given Mullen’s market worth of $339 million.
But Mullen’s biggest problem is their cash burn, which is only going to keep rising in the upcoming years.
The firm had $61 million in cash and short-term investments at the end of the previous quarter, and they’re burning through cash at a rate of about $18.3 million per quarter.
So, how does this affect investors?
Well, when the company transitions to the vehicle production phase of its operations, you should anticipate further dilution in the upcoming months.
It’s not an ideal scenario for anyone involved, but we’ll have to wait and see what Mullen does to change things.
Mullen Automotive Stock Price Prediction 2024 | Muln Stock forecast 2024
The EV market is hotter than ever, with companies like Tesla, Nio Stock, Rivian Stock, and Lucid Motor all vying for the top spot.
But there’s one player in the game that’s fallen so drastically in price that it now appears to be an unbeatable deal – MULN stock.
Now, we know what you’re thinking – why invest in MULN when there are so many other big-name players out there?
Well, let us tell you why.
Mullen has aggressively entered into the last-mile delivery EV market, which is a huge growth area right now.
On top of that, they are working to lower their debt.
That’s right – they’re taking their financials seriously and making moves to improve their bottom line.
So, what does this mean for MULN stock price predictions in 2024?
Well, we’re anticipating that it will trade between 0.50 USD to 0.75 USD.
|Muln Stock forecast 2024
|Min Target- 0.50 USD, Max Target- 0.75 USD
Mullen Automotive Stock Price Prediction 2025 | Muln Stock forecast 2025
This company is incredibly ambitious as it expands into Europe, reduces debt, and acquires an EV last-mile delivery startup.
And let us tell you, by 2024, Mullen will undoubtedly be a fierce rival in the EV market.
Now, we know what you’re really interested in – Mullen Automotive Stock Price Predictions for 2025.
Well, we’ve crunched the numbers and analyzed the trends, and we’re predicting that Muln Stock forecast 2025 will reach $2 to $5 in the upcoming year.
|Muln Stock forecast 2025
|Min Target- $2, Max Target- $5
Mullen Automotive Stock Price Prediction 230 | Muln Stock forecast 2030
According to our long-term Mullen Automotive stock forecast, their value can hit a new all-time high this year. And by 2030, we may expect an average value of $5.69 for Mullen Automotive. Of course, if the market gets bullish, Mullen Automotive could surge even higher than our forecast. In fact, we predict that the maximum value of Mullen Automotive could be around $7.46 in 2030.
On the other hand, if the market turns bearish, the minimum value of Mullen Automotive could be around $3.53.
|Muln Stock forecast 2025
|Min Target- $7.46, Max Target- $3.53
Mullen Automotive Stock FAQ
What is the 52-week low of Mullen Automotive Stock?
The 52-week low of Mullen Automotive Stock is 0.18 USD.
What is the 52-week high of Mullen Automotive Stock?
The 52-week high of Mullen Automotive Stock is 6.05 USD.
Note: Investing in penny stocks is not suited for everyone. Decision to invest can be hazardous, so only invest money that you can afford to lose. This information is solely for educational purposes and does not constitute investment advice. Before purchasing any stocks, please contact with your financial advisor.
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