Evidently, Mullen Stocktwits is engaged in the production of electric vehicles. As of the present, its shares are the most plentiful product.
Compared to less than 25 million a year ago, there are now over 1.7 billion Mullen Stocktwits shares outstanding, and soon, the allowed amount might rise to as much as 5 billion, according to recent financial filings. On a daily basis, some hundred million of these shares are traded, ranking it among the most active US equities in terms of volume. Mullen Stocktwits serves as a case study for the risks of gradual shareholder dilution and how individual investors may be duped as the IT boom falls.
Employees in Mullen
Every weekend, we’ll send a hand-picked selection of 10 of our greatest articles to your email. Loss-making at the end of September, Mullen had about 120 employees, and the would-be Tesla Inc. doesn’t anticipate beginning production of its first exclusive SUV until the following year. However, it already has a loyal fan base of amateur investors and is routinely recognized as one of the top companies on online forums like Stocktwits. A majority share in Bollinger Motors Inc. and assets from the insolvent Electric Last Mile Solutions Inc. were acquired by Mullen last year, which increased its potential vehicle portfolio and manufacturing capacity and stoked investor interest.
A view on Mullen Stocktwits Shares
On the other hand, Hindenburg Research, which had previously attacked truckmaker Nikola Corp., published a negative study on Mullen Stocktwits in April. Additionally, a caution on Mullen’s ability to continue operating is included in its most recent financial statements from southern Florida auditor Daszkal Bolton LLP.
The current market value of Mullen Stocktwits’s shares, which have decreased by more than 90% in the last year, is about $465 million. The more shares it needs to issue to keep the lights on, the more it will be in a slump.
Mullen Stocktwits Transactions
Additionally, the $340 million convertible transaction, which was previously highlighted and which potentially resulted in the issuance of several billion additional shares, must be approved by shareholders. The firm has warned that if the vote fails and Mullen is unable to secure further funding, it will be forced to scale back its manufacturing ambitions, cut expenses, and sell off assets. Therefore, average investors are in a difficult situation.
Mullen Stocktwits Data From Bloomberg Opinion:
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- Sparks Will Fly in the Trade War for Electric Cars, predicts Lionel Laurent
(1) Mullen anticipates beginning the distribution of small urban commercial delivery vehicles built in China, the I-GO, and electric cargo vans this year.
(2) Including a $100 million additional preferred stock purchase option for investors.