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Mullen Automotive, Inc. (MULN)

NasdaqCM - NasdaqCM Real-time price. Currency in USD
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0.3871-0.0129 (-3.22%)
As of 10:25AM EDT. Market open.

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  • r
    Going to be an interesting week.
  • D
    With Mullens last 3 news events :

    1.Mullen Buys Controlling Stake in EV Maker Bollinger, Reviving Two Electric Truck Models

    2.Mullen Automotive is the leading bidder on bankrupt commercial EV maker Electric Last Mile Solutions, its second major deal this month as it strives to deliver its own electric vehicle.

    The California-based automaker placed a stalking horse bid of nearly $92 million to buy ELMS, which had been developing a commercial EV called the Urban Delivery before running out of cash amid an SEC investigation into charges of insider trading.

    Mullen will pay $55 million for the company’s assets, including inventory, intellectual property rights and its plant in Mishawaka, Indiana, and assume $37 million in liabilities, according to an SEC filing. Mullen paid a $5.5 million deposit to be applied toward the purchase.


    Wabash has developed a lightweight composite technology, EcoNex™ Technology, for use in truck bodies and trailers that will seamlessly integrate with Bollinger’s Class 4 electric chassis cab. Wabash’s EcoNex Technology is made from composite material that is more durable, lighter, and more thermally efficient than other commercial products.

    The companies’ unique offering includes:

    Weight savings due to Wabash’s lightweight EcoNex composite technology
    Electrification of customer fleets utilizing Bollinger’s all-electric chassis cab
    Increased total payload capacity due to lower overall truck weight
    Breakthrough improvement in thermal efficiency compared to conventional design
    Overall cost savings due to weight savings and thermal efficiency
    “Wabash’s EcoNex composite technology reduces the amount of electricity needed to maintain cold temperatures,” said Mark Ehrlich, VP new business development at Wabash. “The all-electric truck we’re developing with Bollinger Motors will be highly efficient with more uptime and less charging compared to conventional construction.”

    “I’m excited to help ‘green up’ the journey from farm to table,” said Robert Bollinger, Founder & CEO of Bollinger Motors, who was inspired to start the company while he owned a farm in upstate New York. “We’re confident Wabash’s expertise in commercial transportation, combined with Bollinger’s leadership in Class 4 electrification, will deliver a superior product for customers looking to reduce their carbon footprints.”

    On Wednesday, September 7th, 2022, Bollinger Motors become a majority owned EV truck company of Mullen Automotive, Inc. (NASDAQ: MULN ). This is Mullen’s first EV acquisition and propels the Company into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks. Learn more about the acquisition here . Bollinger Motors is led by founder and CEO, Robert Bollinger, out of their Oak Park, Michigan headquarters.

    More announcements but those 3 in particular is very telling for the path MULN is taking..they just aquired all the pieces they need to rise above the "in development " stage to actually producings EV's . And Considering the great deals thay got on Bollinger and Last Mile through aquistion instead of spending on all that infrastructer they saved prbably close to 1 billion...thats billion they dont need to raise to get to the same needed assets they [picked up with Bollinger and Last Mile.

    And to top it off

    I am particularly excited to see thhis:
    The deal is resuscitating the 50,000 orders Bollinger has. In January, Bollinger had delayed indefinitely plans and said it would refund reservation deposits.

    However, Bollinger intends to get the B1 and B2 electric trucks into production using some of the cash proceeds.

    Clearly most reservations will be cancelled but if Muln/Bollinger can convert even 10% = 5,000 Orders then thats a huge step forward.

    ..My Target price $7.80 nov 23rd
  • E
    September is always been a volatile as motherF … don’t lose hope this baby has huge huge gains coming up be ready boys
  • B
    I have been Holding for a while now, but the market dynamism is getting me really uncomfortable, i really need some help deciding. 🙏😔
  • M
    Michery just filed a form 4. He was given 9.7 million shares as a performance award and he sold 750 thousand shares.

    Also, two 8K's were filed. One about a class action lawsuit and the other amending the sell of shares to raise cash.
  • W
    they merged with Bollinger Motors.
  • t
    I have 41k shares I will hold for a year I believe in this company I will get great return
  • a
    Still confused:
    How did they win an award at a car show?
  • H
    Huy Minh
    Yess sir. It’s about time
  • P
    My average is $1.80 and i'm 80% down YoY, should I hold or sell?
  • A
    Holding 10K shares @ .50cents average cost. I will only sell above $10 . That’s how I turn $5k cash to $100K . I can wait couple years. U just need patience 🤩
  • M
    muln investors snookered huge
  • L
    Lack of trading discipline is the primary reason for intraday trading losses it is estimated that nearly 80- 85% of intraday traders end up losing money in the stock market Experiencing loss is also part of the game but that doesn't mean you should give up.
  • A
    It seems that the Secret News about the ‘Strikingly Different’ secret battery was secretly released.
  • J
    Do not be fooled by theatrics,do not be fooled by their acts,the main thing David Machery is exactly like Maddof...
  • n
    anyone? should I sell or hold?
  • m
    Where's the latest PR ??? --- MULLEN 19 City TOUR--- "upcoming national test-drive tour for the Mullen FIVE EV Crossover. Over the course of six weeks, starting in October, Mullen will embark on the 19-city test drive tour" May 2022
  • A
    This sure is fun to watch.
  • C
    No reverse split. the Nasdaq has extended Muln til March 2023 to hit that $1 mark. we will hit a $1 by the end of this year. no worries here!
  • M
    From the Press Release today.
    Examples of such risks and uncertainties include but are not limited to whether the first and second legs of the “Strikingly Different” Tour will occur within the locations and timelines contemplated herein, the timing of completion and availability of the Mullen FIVE RS, whether the Mullen FIVE RS will be able to reach a top speed of 200 mph and have acceleration capabilities of 0-60 mph in 1.9 seconds, how often updates on Company initiatives will be provided to shareholders. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.