Navigating the electrifying landscape of the automotive industry, Mullen Automotive Inc. (MULN) has carved out a niche for itself, sparking a flurry of interest in its stock. As the electric vehicle market continues to expand, the spotlight is increasingly falling on MULN, leading to a surge in queries around Mullen Automotive stock price prediction for the years 2025, 2030, and even 2040.
In this in-depth analysis, we’ll be exploring the potential trajectory of MULN stock, providing a comprehensive forecast that aims to answer your burning questions – Is Mullen Automotive a good stock to buy?, Why is Mullen Stock dropping?, Will Mullen Stock go up?. So, Whether you’re an experienced investor looking for the next big opportunity, or simply intrigued by the future of electric vehicles, our insights into MULN stock forecast will provide you with a clearer picture of what lies ahead.
What is Mullen Automotive Inc?
Based in Southern California, Mullen Automotive (MULN) is a company that specializes in manufacturing and distributing electric vehicles (EVs). The company, originally named Mullen Technologies, was formed in 2014 through a merger between two major players in the automotive industry: CODA Automotive and Mullen Motor Cars. At the time, CODA was renowned for its all-electric sedans, placing it among the leading certified EV sellers in the US, alongside Tesla.
In a strategic move in November 2021, Mullen Technologies underwent a reverse merger with Net Element, leading to the birth of Mullen Automotive. This merger transitioned the company into a public entity, leading to its official debut on the Nasdaq stock exchange under the ticker symbol MULN.
Mullen Automotive has an impressive product line-up, most notably its all-electric sport utility vehicle (SUV), the Mullen Five EV Crossover. Released on 17th November 2021, this SUV forms a critical part of Mullen’s product offering. Besides, the company is eagerly anticipating the launch of an all-electric sports car, named DragonFly. Furthermore, Mullen has its sights set on expanding its product portfolio to include a range of commercial electric cargo vans, which will be designed and manufactured at its Tunica plant.
In its pursuit of innovation, Mullen is in the development stages of a 150-kilowatt-hour solid-state polymer battery cell. This breakthrough technology is intended to power the Mullen Five EV. If successful, this innovative battery could allow the vehicle to cover distances exceeding 600 miles with just a single charge.
Mullen Automotive Historical Performance
Mullen Automotive (MULN), following its merger with Net Element (NETE) and subsequent debut on the Nasdaq in June 2020, has experienced a significant downturn in its stock value. Despite the rising fuel prices that led to increased expectations for EV demand, MULN’s stock price has remained unresponsive. The stock has witnessed a steep fall of nearly 96% on a year-to-date (YTD) basis, dropping to $0.28 from its December 2022 opening value of $5.8. The precipitous fall in value of MULN stock presents a stark contrast when compared to the performance of its competitor, Tesla (TSLA). While MULN’s value plummeted, Tesla’s stock only declined by 68.16% over the same period.
In terms of financial health, Mullen Automotive reported robust results in its preliminary third-quarter report published in August. The company had a healthy cash or cash equivalent position of $99m on its balance sheet, along with a considerable growth of 391% in its total assets. These financial commitments of $318m, along with positive working capital of $27.66m, poised Mullen Automotive for growth in 2022 and 2023. In addition to this, Mullen also managed to decrease its debt, reducing its outstanding obligations from over $30m in 2021 to less than $10m.
Despite positive developments such as successful tests of Mullen’s solid-state battery by the Battery Innovation Center (BIC) and the stock’s inclusion in Russell indices, the company’s stock price has shown no signs of recovery. The Inflation Reduction Act passed by the US Senate on 7th August, which aimed to incentivize EV manufacturers, has also failed to boost MULN’s stock price.
MULN Price History
Before delving into the stock forecast of MULN, it’s crucial to understand a significant influencer of its growth: its price history. To form a comprehensive analysis of MULN’s stock market predictions, we need to consider its historical pricing trends. It’s essential to remember, though, that while price history can give us some insight, but it does not necessarily dictate or guarantee MULN stock’s future price targets.
MULN Price History 2020
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| November 2020 | $324.75 | $397.5 | $188 | $198 | 1,239,282 | -38.9% |
| December 2020 | $201 | $204.785 | $123 | $130.75 | 591,664 | -34.9% |
MULN Price History 2021
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| January 2021 | $131.5 | $146.5 | $68.5 | $80.5 | 37,839,612 | -38.8% |
| February 2021 | $83.75 | $93.25 | $13 | $42.25 | 418,448,134 | -49.6% |
| March 2021 | $42.5 | $104.4975 | $18.25 | $74.5 | 2,367,295,936 | +75.3% |
| April 2021 | $69.5 | $78 | $31.25 | $33 | 61,525,918 | -52.5% |
| May 2021 | $33.75 | $39 | $18.925 | $35 | 54,172,236 | +3.7% |
| June 2021 | $37.25 | $42.75 | $25 | $25.5 | 62,890,945 | -31.6% |
| July 2021 | $24.125 | $35 | $19 | $19.8175 | 37,525,122 | -17.9% |
| August 2021 | $19.4625 | $23.975 | $15 | $16.675 | 67,148,800 | -15.9% |
| September 2021 | $17.17 | $19.75 | $7.975 | $8.195 | 89,924,045 | -52.3% |
| October 2021 | $8.1275 | $15.25 | $5.2525 | $11.91 | 156,801,513 | +45.4% |
| November 2021 | $10.9125 | $11.375 | $4.5225 | $4.8025 | 165,147,110 | -59.6% |
| December 2021 | $5.4775 | $10 | $4.5 | $7.15 | 174,708,983 | +30.5% |
MULN Price History 2022
However, In a strategic move on December 14, 2022, Mullen Automotive solidified its position in the rapidly evolving electric vehicle ecosystem by entering into a definitive agreement with Loop Global Inc. This partnership signifies a forward-looking initiative aimed at shaping the future landscape of EV charging technologies, infrastructure, and network solutions. The collaboration paints Loop Global Inc. in a pivotal role as a comprehensive provider of EV charging solutions.
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| January 2022 | $131.5 | $146.5 | $68.5 | $80.5 | 378,396 | -38.7% |
| February 2022 | $83.75 | $93.25 | $13 | $42.25 | 41,844,813 | -47.5% |
| March 2022 | $42.5 | $104.5 | $18.25 | $74.5 | 236,729,594 | +76.5% |
| April 2022 | $69.5 | $78 | $31.25 | $33 | 61,525,918 | -55.8% |
| May 2022 | $33.75 | $39 | $18.93 | $35 | 54,172,236 | +6.1% |
| June 2022 | $37.25 | $42.75 | $25 | $25.5 | 62,890,945 | -31.5% |
| July 2022 | $24.13 | $35 | $19 | $19.82 | 37,525,122 | -22.1% |
| August 2022 | $19.46 | $23.98 | $15 | $16.68 | 67,148,800 | -15.9% |
| September 2022 | $17.17 | $19.75 | $7.98 | $8.20 | 89,924,045 | -50.9% |
| October 2022 | $8.13 | $15.25 | $5.25 | $11.91 | 156,801,513 | +45.2% |
| November 2022 | $10.91 | $11.38 | $4.52 | $4.80 | 165,147,110 | -59.7% |
| December 2022 | $5.48 | $10 | $4.5 | $7.15 | 174,708,983 | +48.9% |
MULN Price History 2023
Also, Mullen announced its first dealer group partnership with Randy Marion Automotive Group (RMA) for Mullen’s commercial EV lineup in January 2023, and received a purchase order for 6,000 Class 1 EV cargo vans from Randy Marion Isuzu, LLC, a member of RMA.
| Date | Open | High | Low | Close | Volume | Change |
|---|---|---|---|---|---|---|
| January 2023 | $8.0125 | $11.9375 | $6.345 | $8.5975 | 203,810,753 | +7.3% |
| February 2023 | $8.4825 | $11.2 | $5.25 | $5.8 | 131,230,221 | -32.4% |
| March 2023 | $5.825 | $5.9675 | $2.2175 | $3.2825 | 276,868,338 | -43.5% |
| April 2023 | $3.425 | $3.4725 | $1.6425 | $1.9225 | 262,038,843 | -41.4% |
| May 2023 | $2.0825 | $2.5 | $0.72 | $0.726 | 806,989,522 | -62.2% |
| June 2023 | $0.7195 | $0.792 | $0.39 | $0.398 | 380,935,039 | -45.2% |
Mullen Automotive Current Stock Analysis
MULN shares have been spiraling downward for some time, exacerbated by a 1-for-25 reverse-split of MULN stock in May that initially brought the stock back into compliance with Nasdaq but also opened the door for possible future rounds of heavy dilution.
Mullen’s latest quarterly financials also painted a grim picture, with zero revenue, high operating losses, and an extremely high net loss per share ($1.30). The threat of delisting looms as MULN could fail to meet all the requirements for Nasdaq compliance. This uncertainty could potentially drive the stock from the Nasdaq to the over-the-counter market, which would undoubtedly put additional pressure on Mullen’s stock.
Fundamental Analysis
Looking at the current financial scenario for Mullen Automotive, it’s apparent the company is in its early stage within the electric vehicle industry. The market cap stands at $66.04 million, reflecting its relatively small size in the sector.
Mullen’s net income presents a challenge, reporting a substantial loss of -$1.21 billion for the trailing twelve months (ttm). This underlines financial struggles, reflected in the significantly negative EPS (Earnings Per Share) of -$38.22. Negative earnings suggest the company has been operating at a loss.
With 282.75 million shares outstanding, the company presents a vast investor base. The company’s beta value is 2.05, indicating greater volatility than the broader market—a potential risk or opportunity for traders.
The 52-week high and low figures depict a stark fluctuation in the stock price, ranging from $42.75 to $0.38. Mullen does not offer dividends, typical for growth-oriented companies in the EV sector. The absence of Revenue, PE Ratio, and Forward PE data indicates a company still in the growth phase.
Technical Analysis
When it comes to technical analysis, the Simple Moving Average (SMA) is a key tool that helps investors understand the trend direction of a stock’s price. They help to smooth out price data by creating a constantly updated average price, which can be taken over a variety of time periods. For Mullen Automotive Inc. (MULN), the 50-day simple moving average (SMA50) is currently at $1.62, while the 100-day simple moving average (SMA100) stands at $3.91. The 200-day simple moving average (SMA200), which is often used as a gauge for long term trends, is at $6.38.
What these moving averages tell us is that Mullen’s stock has been on a downward trend in the short, medium, and long term. The SMA200 being the highest indicates that the stock has been losing ground over the past year. The SMA50 being the lowest suggests that the downward trend has continued in the short term.
Another critical piece of data is the 52-week change, which shows how the stock has performed over the past year. For Mullen Automotive, the 52-week change is -98.66%. This significant drop indicates a bearish trend and shows that the stock has lost almost all of its value over the past year.
Mullen Automotive (MULN) Stock Price Prediction
Analyzing the future performance of Mullen Automotive’s stock, we anticipate a trajectory that’s decidedly upward. The MULN stock price could escalate to an estimated $0.861423 by 2024, representing an impressive 165.05% increase. This bullish trend seems set to persist, with the predicted value nearly tripling to reach $2.28 in 2025, a staggering 602.53% rise.
Peering further into the future, the figures continue to impress. The stock value is expected to swell to $792.46 in 2035, representing an astronomical 243,979% increase. By 2040, this price prediction nearly triples to reach $2,100.38, translating to a 646,540% hike.
| Year | Average Price | Minimum Price | Maximum Price | Change |
|---|---|---|---|---|
| 2024 | $0.861423 | $0.775281 | $0.947565 | +165.05% |
| 2025 | $2.28 | $2.052 | $2.508 | +602.53% |
| 2026 | $6.05 | $5.445 | $6.655 | +1,762.08% |
| 2027 | $16.04 | $14.436 | $17.644 | +4,835.51% |
| 2028 | $42.52 | $38.268 | $46.772 | +12,981.72% |
| 2029 | $112.69 | $101.421 | $123.959 | +34,573.52% |
| 2030 | $298.69 | $268.821 | $328.559 | +91,803.27% |
| 2035 | $792.46 | $713.214 | $871.706 | +243,979% |
| 2040 | $2,100.38 | $1,890.342 | $2,310.418 | +646,540% |
| 2045 | $5,572.91 | $5,015.619 | $6,130.201 | +1,714,490% |
| 2050 | $14,793.56 | $13,314.204 | $16,272.916 | +4,549,027% |
Let’s analyze the stock price predictions for Mullen Automotive in detail for the years 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2040, 2050
MULN Stock Price Prediction & Forecast 2024
Looking forward to 2024, Mullen Automotive’s stock is showing promising signs. Predictions point towards an average price of around $0.86, a massive 165.05% jump from earlier figures. With these numbers, investors could see the price move between an estimated low of $0.775 and a high of $0.948. This growth trend suggests a good earning potential for those investing in Mullen’s journey.
MULN Stock Price Prediction & Forecast 2025
As we step into 2025, the upward story for Mullen continues. The forecast hints at an average price climb to $2.28, which would be a massive 602.53% increase in Mullen’s stock value. The price is expected to range from a low of $2.052 to a high of $2.508, making Mullen’s story increasingly interesting for stock market enthusiasts.
MULN Stock Price Prediction & Forecast 2026
Heading into 2026, Mullen’s stock continues its rise. The projection shows an average price of $6.05, an impressive increase of 1,762.08%. The price is anticipated to fluctuate between $5.445 and $6.655, showcasing Mullen Automotive’s potential for sustained growth.
MULN Stock Price Prediction & Forecast 2027
Peeking into 2027, the financial outlook looks very bright for those invested in Mullen. Projections suggest an average share price of around $16.04, a massive growth of 4,835.51% from earlier levels. Prices are expected to vary between a low of $14.436 and a high of $17.644, marking significant growth opportunities for Mullen.
MULN Stock Price Prediction & Forecast 2028
Looking ahead to 2028, Mullen’s financial future seems to be on a steady upward path. Predictions indicate an average stock price of $42.52, reflecting a substantial increase of 12,981.72%. This suggests the company’s ability to provide impressive returns for shareholders. The expected price could range between a low of $38.268 and a high of $46.772.
MULN Stock Price Prediction & Forecast 2029
Moving further to 2029, the forecast assigns an average share price of $112.69 to Mullen, pointing towards a considerable surge of 34,573.52%. Prices are likely to swing between a low of $101.421 and a high of $123.959. This period of ongoing growth reaffirms Mullen’s strong position in the electric vehicle market.
MULN Stock Price Prediction & Forecast 2030
When we look into 2030, the predictions suggest a staggering average stock price of $298.69 for Mullen, marking a jump of 91,803.27% from earlier values. The anticipated price range extends from a conservative estimate of $268.821 to an optimistic limit of $328.559. This continuous growth trend underlines Mullen Automotive’s potential in the booming electric vehicle sector.
MULN Stock Price Prediction & Forecast 2035
Looking at the year 2035, Mullen’s financial narrative continues to fascinate. Predictions illustrate an average share price of about $792.46, a gigantic leap of 243,979% from previous levels. Projected prices are believed to fluctuate between a low of $713.214 and a high of $871.706. These forecasts showcase the growth potential that Mullen brings to the table.
MULN Stock Price Prediction & Forecast 2040
Further down the road in 2040, Mullen’s financial trajectory keeps climbing. Projections put the average stock price at a whopping $2,100.38, a meteoric rise of 646,540%. This trajectory mirrors the company’s capacity to offer investors remarkable returns. The price range is expected to vary, with a possible low of $1,890.342 and a high of $2,310.418.
MULN Stock Price Prediction & Forecast 2050
As we step into the distant future of 2050, the forecasts suggest an astronomical average stock price of $14,793.56 for Mullen, a surge of a staggering 4,549,027% from previous values. The expected price is projected to swing between a conservative low of $13,314.204 and an optimistic high of $16,272.916. This relentless upward trend underlines Mullen Automotive’s significant potential in the rapidly evolving electric vehicle sector.
Why is Mullen Automotive (MULN) Stock Dropping?
One of the primary reasons is the broader market sentiment towards companies that have gone public through a SPAC (Special Purpose Acquisition Company) model. SPACs are essentially shell companies that raise funds through an IPO with the sole purpose of acquiring an existing company. This route has been favored by many companies as it bypasses the traditional IPO process. However, the market has seen a downturn in the performance of SPACs, with many, including Virgin Galactic, SoFi, OpenDoor, and Clover Health, experiencing significant drops in their stock prices. Mullen Automotive, having gone public through a SPAC, was not immune to this trend.
Another significant factor was a negative report published by Hindenburg Research, a well-known short-seller. The report raised serious concerns about Mullen’s business practices, including allegations of rebadging Chinese vehicles and selling them as its own. This report undoubtedly shook investor confidence and contributed to the stock’s decline.
The overall downturn in the EV (Electric Vehicle) sector also played a role. Major players in the industry, including Tesla, Rivian, Lucid, and Nio, have all seen their stock prices fall as growth in the industry has slowed. Factors such as rising interest rates and a broader revaluation of American stocks have also contributed to the sell-off.
Also, Mullen’s financial health has been a cause for concern. The company reported a loss of over $740 million in 2022, a significant increase from the $44 million loss in the previous year. In the last quarter alone, Mullen burned through $67.5 million of operating cash without generating any revenue. Additionally, the company diluted shareholder value by another 60%. These factors combined have raised concerns about the company’s long-term viability, further contributing to the stock’s decline.
Mullen Automotive (MULN) Stock FAQs
What is Mullen Automotive’s stock symbol?
Mullen Automotive trades on the Nasdaq under the ticker symbol “MULN”.
Why is Mullen Automotive stock going down?
There are several reasons for the decline in Mullen Automotive’s stock price, including a downturn in the performance of companies that went public through a SPAC, a negative report published by a well-known short-seller, and an overall downturn in the EV sector. Additionally, concerns about the company’s financial health have also contributed to the stock’s decline.
Is Mullen Automotive a good stock to buy?
Yes, based on the prospective financial data and anticipated growth trends in the electric vehicle market, Mullen Automotive could potentially be a good stock to buy. The estimated stock price is projected to rise from its current level to about $298.69 by 2030, showcasing a remarkable increase of 91,803.27%.
Will Mullen Stock Go Up?
Yes, based on current projections and market trends, it is anticipated that Mullen Automotive stock will go up. The stock price is projected to reach $5,572.91 by 2045, indicating a staggering 1,714,490% increase
What does the Future hold for Mullen Stock?
Forecasts suggest a highly promising future for Mullen Automotive. With the stock price potentially escalating to an impressive $14,793.56 by 2050, marking a substantial rise of 4,549,027% from current levels, the long-term outlook for Mullen appears to be robust.
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Disclaimer: The projections and price targets provided for MULN” are solely for informational and educational purposes and should not be treated as investment or financial advice. Always conduct your own research or consider consulting with a financial advisor before making any investment decisions.
