MULN stock gained nearly 30% on March 11, 2022, after the company reported that Insider Monkey gave MULN stock a top buy rating for March. Bullish option flow was also detected in the stock after the Insider Monkey article.
Financial Website Insider Monkey Names Mullen Automotive a Top Penny Stock to Buy in March
Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announces that a recently published article by Insider Monkey has named $MULN a top penny stock with enormous growth potential to invest in during the month of March 2022. Founded in 2010, Insider Monkey is a finance website that uses a proprietary strategy to identify the best stock picks from exceptional hedge funds and insiders.
“Mullen has tremendous long-term growth potential, and I am glad to see that being recognized,” said David Michery, CEO and chairman of Mullen Automotive. “As mentioned in the article, our work in solid-state EV battery development, with over 600 miles of range, along with 120 technology patents in 24 countries are just a couple among many reasons why folks should have MULN on their radar.”
The Insider Monkey list was curated based on stocks with enormous growth potential in biotech, energy, cybersecurity and other technology sectors. Upcoming growth catalysts, analyst ratings and business fundamentals of each stock were taken into consideration to identify the most exciting ones. The hedge fund sentiment around each stock has been derived from Insider Monkey’s database of 924 elite hedge funds and was provided to give readers better context for their investment choices. The full article is available to read here.
Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. The Company expects these strategic developments to play a crucial role in bringing the Mullen FIVE EV crossover to market with the latest technology and in the least amount of time. Mullen FIVE was named “Top Zero Emission SUV” as part of the ZEVA® Awards at the Los Angeles International Auto Show in November 2021, where it made its debut.
The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly DifferentTM” and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.
Bullish Option Flow In MULN Stock
Make sure to review this lesson on option flow so that you understand the image above.
📺💥 Mullen Automotive MULN Named Top 10 Penny Stock from Insider Monkey Huge Potential Gains
📉 MULN Stock Technical Analysis
Volume is considerably higher in the last couple of days since the Insider Money article, which is what you like to see during a strong move-up. However, both the long and short-term trends are negative. It is better to avoid buying stocks with negative trends. MULN is currently trading near the lower end of its 52-week range, which is not a good sign. MULN is lagging the S&P500 Index which is trading in the middle of its 52-week range.
MULN has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. MULN stock has a Setup Rating of 6 out of 10. There is very little resistance above the current price. Click here to sign up for email alerts on when MULN stock consolidates and has a Setup Rating of 8 or higher.