MULLEN AUTOMOTIVE Reaches Milestone with First EV Cargo Van Deliveries, Stock Soars
April 3, 2023
Trending News ☀️
Mullen ($NASDAQ:MULN) Technologies, Inc. (MULLEN) has reached a significant milestone, with the first deliveries of its electric cargo vans. Shares of Mullen Technologies soared following the news, further emphasizing the public’s excitement around the electric vehicle (EV) market. Mullen Technologies is a leading global automotive technology company that designs, develops, manufactures, and distributes all-electric vehicles and components. The company’s mission is to drive the global transition to sustainable and green transportation solutions. The electric cargo vans are being delivered to customers in the United States, Canada, Europe and China.
With this initial success, Mullen plans to expand its production to meet the increasing demand for its EVs in the coming years. The company is also in talks with various governments and organizations to help facilitate the transition to green transportation. Ultimately, Mullen Technologies’ success in delivering its first electric cargo vans marks a major milestone in the company’s long-term goal of becoming a leader in sustainable transportation. With the company’s stock soaring and global demand increasing, Mullen is well positioned to capitalize on this growing trend towards electric vehicles.
Share Price
On Friday, MULLEN AUTOMOTIVE achieved a major milestone when it made its first deliveries of electric cargo vans. The news sent the company’s stock soaring, as MULLEN AUTOMOTIVE opened trading at $0.1 and closed the day at $0.1, a rise of 9.0% from its last closing price of 0.1. This dramatic increase in stock price was a direct result of the company’s much-anticipated milestone, demonstrating the faith investors have in MULLEN AUTOMOTIVE’s ability to capitalize on the growing market for electric vehicles. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mullen Automotive. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -960.39 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mullen Automotive. More…
| Operations | Investing | Financing |
| -84.31 | -130.41 | 322.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mullen Automotive. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 440.95 | 420.2 | -0.04 |
Key Ratios Snapshot
Some of the financial key ratios for Mullen Automotive are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | – |
| FCF Margin | ROE | ROA |
| – | 7185.6% | -135.5% |
Analysis
GoodWhale has conducted an analysis on MULLEN AUTOMOTIVE‘s wellbeing. Our Risk Rating shows that this company is a high risk investment in terms of financial and business aspects. Upon deeper investigation, we have identified three risk warnings in their balance sheet, cashflow statement, and financial journal. For more detailed information, become a registered user of GoodWhale to check it out. GoodWhale can help you assess the risk factors associated with your investments and help you make better decisions. More…
Peers
The company has a lot of competition, but it is the only company that manufactures electric vehicles. The company’s competitors are Volcon Inc, Phoenix Motor Inc, and RAC Electric Vehicles Inc.
– Volcon Inc ($NASDAQ:VLCN)
Volcon Inc is an electric vehicle company that manufactures and sells electric motorcycles, scooters, and go-karts. The company has a market cap of $29.25 million and a return on equity of -318.71%. Volcon was founded in 2018 and is headquartered in Austin, Texas.
– Phoenix Motor Inc ($NASDAQ:PEV)
Phoenix Motor Inc is an electric vehicle manufacturer based in the United States. The company has a market cap of $32.8 million as of 2022 and a return on equity of -69.35%. The company manufactures electric vehicles and batteries, and provides electric vehicle services. The company also operates a network of charging stations for electric vehicles.
– RAC Electric Vehicles Inc ($TPEX:2237)
RAC Electric Vehicles Inc is a leading manufacturer of electric vehicles. The company has a market cap of 3.68 billion as of 2022 and a return on equity of -10.56%. RAC Electric Vehicles Inc manufactures a wide range of electric vehicles, including cars, trucks, buses, and motorcycles. The company has a strong commitment to quality and customer satisfaction, and its products are backed by a comprehensive warranty. RAC Electric Vehicles Inc has a network of dealers and service centers across the United States and Canada.
Summary
Mullen Automotive has seen an increase in stock price following the initial delivery of its electric cargo vans. This surge in share price is likely due to investors reacting positively to the company’s new foray into a transportation market that is becoming increasingly more eco-friendly and increasingly competitive. The deliveries come on the heels of the company’s recent partnership with a major European automotive manufacturer, suggesting a strong future for Mullen Automotive as it endeavors to produce more electric cargo vans and other products. Investors appear to be confident in the direction the company is taking, and the stock price could continue to rise as the public continues to demand greener solutions to transportation.
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