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Sunday, July 21, 2024

Shares of Mullen Automotive (NASDAQ: MULN) Have risen 90% in the Last Five Days

In the last five days, shares of Mullen Automotive (NASDAQ: MULN) have climbed over 90%. That’s impressive considering the stock has been hammered down in recent months.

But the good news is, there is a growing legion of bulls for MULN stock. It’s all thanks to social media momentum.

Electric Cars

The electric car is a type of vehicle that runs on electricity and is completely powered by batteries. It is a cleaner, greener, and cheaper alternative to gasoline-powered vehicles. The EV industry is growing rapidly and is expected to be the biggest automotive market in 2023. The most common EVs are compact SUVs and sedans that can travel up to 350 miles on a single charge.

However, these vehicles can take a long time to recharge. This is why many people prefer hybrid solutions, which can combine an electric motor with a gas or diesel engine for better range and quicker charging. Mullen Automotive (NASDAQ: MULN) is one of the companies that are trying to revolutionize the EV market and is doing so with its flagship product, the FIVE. The crossover is slated to be delivered in 2024 and features an award-winning design and PERSONA technology that uses facial recognition to customize the driving experience for each driver.

Tesla Model S

Despite falling all day Friday, Tesla’s (TSLA) stock has turned a bit higher this morning. That’s due to a story that’s been circulating on Reddit, StockTwits, and other chat forums about Mullen Automotive (NASDAQ: MULN), a small electric car company.

The California-based company recently unveiled a cool-looking and sporty EV crossover that’s slated to come out in 2024. It’s called the Mullen FIVE, which features all-wheel drive, a 95 kWh battery pack fast charging to 80 percent in 21 minutes, and a 325-mile driving range. Its price will be in the $55,000 range, which puts it near BYD (BYDDF), Nio (NIO), and XPeng (XPE) stock and just under the $74,000 mark for a Tesla Model S Plaid. It’s a nice entry point for those who want to get into the market right away.

Tesla Model X

Electric vehicle play Mullen Automotive (NASDAQ: MULN) traded over 550 million shares Monday and is down today. The stock has seen some big price swings this week as investors attempt to assign a fair market value for the micro-cap stock, which is apparently one of the more heavily shorted stocks in the market. When it comes to electric vehicles, the Tesla Model X is a clear leader. This SUV has a massive battery capacity, blazing acceleration, all-wheel drive, and sports-sedan handling.

Moreover, the car offers personalized driving modes, intricate safety features, and a forward-thinking technological profile. The company is also introducing newer cars with auto-raising suspension to help improve ride comfort and handling. If you like speed, the Model X’s plaid mode heats the batteries to an optimum temperature and can get you to 60 miles an hour in just two seconds. The car also has a dog mode to keep your furry family member safe on long trips.

For more: businesstechtime.com

Tesla Model 3

In a keynote speech at the company’s Hawthorne, California, event on Thursday, Tesla CEO Elon Musk made a plea to the world: Electric cars are necessary to combat the climate crisis. He then laid out a plan to help make that happen.

That plan is the Model 3. It’s meant to compete with other mass-market EVs like the Chevy Bolt and Kia Niro. It’s one of the fastest EVs on the road today, with its 1,020 horsepower and ability to zip from zero to 60 in two seconds. It’s also got plenty of style points. It also boasts a lot of safety features, including eight cameras and 12 sensors. It also has a Full-Self Driving add-on, which can handle acceleration and lane changes on highways.

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