- Mullen Automotive (MULN) inventory spikes strongly once more on Wednesday.
- MULN CEO David Michery seems at the Benzinga Listmaker EV event.
- Mullen CEO states a significant corporation will be purchasing Mullen vans soon.
Mullen Automotive stock (MULN) managed to buck the trend witnessed in other meme stocks on Wednesday as it driven greater on the again of some favourable information movement. MULN stock closed the frequent session with a obtain of 28.9% to achieve $3.03. Other noteworthy names in the meme room like AMC and GME fell sharply, whilst EV names Lucid (LCID) and Rivian (RIVN) were also decreased by about 3% on Wednesday. MULN inventory then was a strong outperformer, but why?
Mullen Automotive Stock Information: CEO talks the talk
The cause for the pop in MULN stock on Wednesday was down to an interview offered by Mullen CEO David Michel. He appeared on Benzinga’s Listmaker electric powered automobile (EV) event and was good about the outlook for Mullen. He mentioned the business had ensured they were not likely to have any delays shortly. We think this is referring to creation as several EV makers are struggling with uncooked resources and offer chain concerns.
Possibly what grabbed the traders’ attention nevertheless was this remark from him: “A quite substantial corporation will be acquiring the company’s van motor vehicles in the close long run.”
That undoubtedly was good, and traders rushed into the stock, sending it spiking greater. The CEO also talked about that it was a Fortune 500 business, in accordance to social media and some other information resources. Other websites are also reporting the offer is thanks to be introduced in Q2. MULN stock has maintained the momentum and is ahead by yet another 8% in Thursday’s premarket.
Mullen Automotive Inventory Forecast: $2 must hold to test $4.98
We are not huge lovers of complex analysis on anything so risky, but we can establish some critical levels. The breakout took put once MULN stock broke earlier mentioned $2. So we have to have to hold above that level to sustain the momentum in the medium phrase. That could then set MULN up for a test of $4.98.
MULN stock chart, day-to-day
On the small-expression intraday chart beneath, $2.90 is the critical pivot. All the quantity on Wednesday was at this degree and above. Breaking down below in all probability means a sharp go to $2.60.
MULN inventory chart, 15-moment