MULN
This California-based EV maker has some BIG news in the pipeline and is a "must watch" from the award winning EV maker since 2009. About:
"Founded in 2009, the award winning company’s all-electric sedan came with a range of 88 mi (142 km), the longest among its class at the time. At one point, Mullen (formerly CODA) was one of the only two certified EV companies selling EVs across the US; the other company being Tesla. - www.mullenusa.com/about-us
Investment Consideration:
Mullen is currently working on an announcement deal with a Fortune 500 company for its Class 1 vehicles as recently confirmed by the CEO, David Michery. Per David, Mullen is also currently in negotiations with “major OEMs” to use Mullen‘s solid-state polymer battery technology. Testing results with the Battery Innovation Center (BIC) show: "the solid-state polymer cell, rated at 300 Ah and 3.7 volts, tested in at 343.28 Ah at 4.2 volts, exceeding expectation and in line with test tolerance from previous EV Grid test results." - news.mullenusa.com/m...battery-test-results
Upcoming Index Listing: June 27 - RUSSELL 2000 AND 3000 INDEXES LISTING
Technical Review:
Mullen is currently ranging inside a large channel in log scale. The price bounced off the lows at approx $.52 from the channel bottom. We can see there was a decent bounce from there, upward to $4.17 followed by a 78.6% retrace to generate a "higher low" structure. This suggest a new uptrend is very likely from here.
Fundamental Review:
1) VERY high demand for affordable EV's.
2) Skyrocketing fuel prices will drive further innovation and interest towards EV markets.
3) Cutting edge battery technology that could be licensed to other EV OEM's.
4) Potential partnerships with major OEM's.
5) The Future of EV is now!
Price Targets:
Target #1 - $7.34 - Major resistance zone from previous structure breakdown
Target #2 - $15 - Using Fibonacci, the current 1.618 fib extension from $.52 to $4.17 is right around $15
Target #3 - $20 - Focusing on the channel boundaries, one could expect a bounce toward the upper channel top at approx. $20 over the longer term, IF the business remains healthy.
Note: Not trading or investment advice.
Trade closed: stop reached:
Latest 8k filing, the $MULN BOD voted for stock dilution, given their voting share leverage. RIP
This corporation is authorized to issue two classes of stock to be designated, respectively, common stock and preferred stock. The total number of shares that this corporation is authorized to issue is Two Billion Two Hundred Fifty Million (2,250,000,000). The total number of shares of common stock authorized to be issued is One Billion Seven Hundred Fifty Million (1,750,000,000), par value $0.001 per share (the "Common Stock").
This corporation is authorized to issue two classes of stock to be designated, respectively, common stock and preferred stock. The total number of shares that this corporation is authorized to issue is Two Billion Two Hundred Fifty Million (2,250,000,000). The total number of shares of common stock authorized to be issued is One Billion Seven Hundred Fifty Million (1,750,000,000), par value $0.001 per share (the "Common Stock").