Good Afternoon - The only thing that can be said with certainty about Mullen Automotive NASDAQ: MULN is that it comes with high risk. Dilution and liquidity fears aside, the deal with Lawrence Hardge is a wickedly unknown factor, yet the story still has compelling aspects. A growing number of orders, its position in the EV market, and the hopes that production will begin over the summer keep the bulls just as interested as the bears. The short interest is hovering around 12.5% on a split-adjusted basis, keeping the market from gaining traction, but new lows are getting harder and harder to come by. One reason for that is the institutions. Marketbeat.com’s institutional trading tools have picked up a growing number of new buys that suggest one thing: the institutions think the risk is worth taking, if only with a minimal position. They own only 6% of the stock collectively, and the buying picked up conspicuously after the reverse split, but it is a telling indication. Among the 9 buyers are Barclays, BNY Mellon, Goldman Sachs, and Charles Schwab, which owns nearly 2.0% of the company as of the last report. Another telling factor is that positions were increased by triple-digits almost across the board, with Goldman Sachs lagging at up 76% and Schwab leading with an increase of more than 200%. Click here to learn more about how Mullen Automotive continues to build momentum. Head over to MarketBeat's YouTube channel to discover more video analysis like the one below.
Check out these additional articles and offers: Transform Your Portfolio With This Simple Morning Trade! (From Base Camp Trading) Hi, I’m trading expert Dave Aquino and I want to show you how to take advantage of a trading opportunity happening nearly every morning at 9:30 EST. My free guide, “How To Master The Retirement Trade” will show you exactly why traders in the know want to keep this trade a secret. Claim your copy now! Passive Income Powerhouse Unveiled: The Ultimate Play! (From The Oxford Club) The #1 income play for 2023 is NOT a stock, bond or private company... Rather, it's a little-known alternative investment that could hand you big monthly income from oil and gas. Find Out What It Is Right Here. >>> His win rate puts Warren Buffett to shame… (From Investing Daily) Skeptical? I understand. Yet, there's a trader who defies skepticism, boasting a top track record on Wall Street. With an unwavering 9/10 win rate, this trader thrives in any market condition. Now, seize the chance to achieve remarkable gains, regardless of market fluctuations. Still uncertain? Discover more! Click HERE to see it with your own eyes. The Ignored EV Story Few Investors Know About (From Edge On The Street) Lithium may grab all the headlines, but the average electric vehicle requires 146 pounds of the mineral graphite. With no producing graphite mines in North America, the U.S. government is desperate for more domestic sources of the metal to feed the EV battery supply chain. See why "Made in America" graphite is a win 5 Stocks to Buy Immediately (From Investorplace Media) America’s #1 stock picker issues 5 buy alerts – one of which is positioned to be the next Tesla. Just click to claim your copy. >>> “Gap Up” Potential… (From Weekly Investor Alerts) This company has an average daily trading volume of over 2.5 million shares… which offers significant “gap up” potential. News on this company’s drug candidates or any of its existing pharmaceuticals – can trigger moves in share price. Which is a huge opportunity for investors like you. >>> Click Here. $5 a Share or Less… (From ProTrading Research) Do you want a list of stocks trading for $5 a share or less that are in an excellent position to deliver potential breakthroughs in the months ahead? Check out these top penny stocks poised to soar… Click here for the names & ticker symbols. William Bushee MarketBeat |