Mullen Automotive (MULN) Stock Forecast 2023, 2025, 2030 — Is MULN Stock a Good Investment?

 

Mullen Automotive (NASDAQ:MULN), an electric vehicle (EV) manufacturer based in California, has no assurances of success in five or ten years. This year, however, MULN stock has a realistic opportunity to double, triple, or even increase further. And this does not have to involve a reverse share split as a fast fix.

 

Do not form the incorrect impression. Mullen Automotive has cast doubt on the company’s viability as a “continuing concern.” Therefore, it is not prudent to invest one’s entire portfolio in shares of Mullen Automotive.

 

On the other hand, a modest stake with a high but reasonable price target may produce unexpectedly favourable results. Even though there is a lot of competition in the EV market, don’t count out Mullen Automotive just yet.

What is Mullen Automotive (MULN) ?

 

 

Rapid transformation is occurring in the automotive sector. The market for automobiles, for example, is being shaken up. Ten percent of 2022 U.S. vehicle sales were EVs, according to estimates. Another shift has occurred in China, where local brands have captured an increasingly sizable portion of the country’s retail sales.

 

For example, Mullen Automotive (MULN) is competing with Tesla and other electric vehicle (EV) manufacturers to become the industry standard. Its cars are being assembled in the Golden State. It is also investigating solid-state battery technology, which, if successful, might lead to the development of superior batteries. Mullen also manages the automobile marketplace CarHub.

 

More importantly, Mullen Automotive (MULN) has been relatively acquisitive. The company spent $240 million to buy Electric Last Mile Solutions (ELMS) in 2022. A 60.5% interest in electric truck manufacturer Bollinger Motors was also acquired.

 

Autos such the Mullen FIVE, Mullen FIVE RS, the Mullen Class 1 van, the Mullen Class 3, as well as the Bollinger B1, B2, I-GO, and B4 platform are all being produced by Mullen.

 

 

 

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MULN Stock Recent Updates

 

 

In recent days, Mullen Automotive (MULN) has received a sizable order from Randy Marion Isuzu. Class 1-3 cargo vans and Class 4-6 chassis products from Bollinger Motors are included in the order estimated to be worth around $200 million. The order will be filled in the firm’s Mississippi factory.

 

At the same time, strategic hires were made by the organization to bolster its operations. The list includes high-ranking executives including Raj Pai, head engineer of commercial vehicles, and Jerry Hu, the company’s incoming president of commercial vehicles. The firm issued a statement saying:

 

Strategically, we’ve been bringing on top talent from established automakers, tier-1 suppliers, and other EV startups. It’s heartening to know that so many qualified people are interested in joining the Mullen team.

 

The relationship between Mullen Automotive (MULN) and Loop was also revealed, which is noteworthy. A business called Loop is working to install thousands of EV charging stations across the United States. Fast DC charging up to levels 2 and 3 is supported. Loop will provide financing of up to $300 million as part of the agreement.

 

The company also signed a contract with Newgate Motor Group, an Irish firm, in the month of November. By signing this arrangement, Newgate will represent the company as its exclusive marketing, sales, and service agent in Ireland and the United Kingdom.

 

 

 

 

Mullen Automotive (MULN) Stock Forecast 2023

 

 

Despite the fact that the market as a whole is experiencing adverse developments, the outlook for Mullen Automotive is bullish. Stock in Mullen Automotive has the potential to reach a high of $0.97 by 2023, according to our projections. Several market watchers predict that auto stocks will recover to their recent levels within the next few months.

 

If Mullen Automotive’s recent expansion continues, the stock might reach a price of about $0.75 per share. Also, if there is a bearish trend, the price of Mullen Automotive could drop to as low as $0.43. Price gains for Mullen Automotive in the upcoming rally could exceed our long-term price projections.

 

 

 

 

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Mullen Automotive (MULN) Stock Forecast 2024

 

Mullen Automotive, like other car stocks, should see its value rise after a prolonged downturn this year. According to our price target analysis, Mullen Automotive’s share price has the potential to reach $0.81 by 2024. The stock of Mullen Automotive has a potential average price of $0.56 if recent trends persist. Mullen Automotive stock, however, can drop to roughly $0.34 in the event of unfavorable market conditions.

 

 

 

 

 

Mullen Automotive (MULN) Stock Forecast 2025

 

 

Although Mullen Automotive’s 2025 performance may be optimistic, it is unlikely to match the ATH of the past year. We anticipate that the average price of Mullen Automotive shares will be $0.94 by the year 2025. Our highest Mullen Automotive price target for 2025 is $1.42, assuming the company maintains its present rate of growth.

 

If the market becomes bearish, Mullen Automotive might drop to a low of about $0.73. Yet if the market turns bullish in 2025, Mullen Automotive could see even greater growth than we anticipate.

 

 

 

 

 

 

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Mullen Automotive (MULN) Stock Forecast 2030

 

 

If you’re willing to wait until 2030, investing in shares of Mullen Automotive could pay off handsomely. In line with our long-term Mullen Automotive stock forecast, we anticipate their value to reach a new ATH level in 2018. The average value of Mullen Automotive could reach $5.69 by the year 2030.

 

We may be underestimating Mullen Automotive’s potential for growth if the market suddenly becomes positive. At $7.46 is about as high as Mullen Automotive’s price may go in 2030. Mullen Automotive, however, has the potential to be worth as little as $3.53 if the market becomes pessimistic.

 

 

 

 

Will Mullen Automotive (MULN) Stock Recover?

 

 

Many investors may be wondering if Mullen Automotive stock will rebound from its recent price of virtually $0. Based on its recent performance, MULN stock doesn’t appear to be making a quick comeback. We anticipate that Mullen Automotive stock will reach $1 by the end of 2026.

 

Yet, with enough time and effort, almost anything is possible in the stock market. It’s not easy to assert that stock market predictions can be correct, given how quickly a tremendous bull run or bear rally may obliterate them. Mullen Automotive’s stock price could rise sooner than we expect if more investors decide to buy into the company.

 

 

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Is MULN Stock a Good Investment?

 

 

There are a number of reasons why we think MULN stock is a bad investment. To begin, the firm does not have a tried and true technology. This means that investors are placing their faith in the company’s future success and the efficacy of its technologies.

 

 

Second, millions of dollars in cash are being wasted every month by Mullen’s cash incinerator. Because of this, the likelihood of the company going bankrupt in the near future is increased, as previously noted. For the third, Mullen has a checkered past. The company’s original plan included erecting an electrified saloon, for instance. Their next plan was to show the American market the Qiantu K50 from China. It has spread to other vehicles, such delivery trucks.

 

 

As I also mentioned in my Rivian stock price prediction, I have my doubts about the long-term viability of electric vehicles in the United States. When it comes to automobiles, I anticipate that vehicles powered by internal combustion engines (ICEs) will maintain a large market share for the foreseeable future. Last but not least, recalls and other costs add up to the billions of dollars needed to develop a successful electric vehicle firm.

 

 

FAQs

 

 

1.What is the outlook for Mullen Automotive (MULN) stock? 

Predicting the future price of Mullen Automotive stock, or any other stock, is difficult. While market sentiment is currently gloomy, the performance of Mullen Automotive stocks appears to be more volatile.

 

 

2.Can we see a decline in Mullen Automotive (MULN) stock?

One of the most volatile stocks on the market, Mullen Automotive (MULN) has had its share price drop by 95% since its IPO. Some market watchers predict another drop in MULN shares.

 

 

3.In what condition will Mullen Automotive stock be in the next five years?

Considering the stock’s recent history, it’s possible that Mullen’s growth may be sluggish over the next few months. Although a positive outlook for Mullen Automotive’s future can be inferred from a number of indicators, including the company’s financial performance, the demand for, and the supply of Mullen Automotive products, and many others, many variables will determine the actual value of Mullen Automotive stock in five years. If growth continues at its current clip, our price target for Mullen Automotive shares is $1, which might be reached within the next five years.