MULN
Mullen Automotive, Inc. Common Stock
stock NASDAQ

In fact, you should put 90% of your money in MULN and let it ride

With the Mishawaka plant handed over to GEM as part of the settlement, MULN won't have any carrying costs or operational expenses related to the unnecessary existence of a place that makes cars.

Come on MULN?!? They are not going anywhere

In fact, you should put 90% of your money in MULN and let it ride

With the Mishawaka plant handed over to GEM as part of the settlement, MULN won't have any carrying costs or operational expenses related to the unnecessary existence of a place that makes cars.

Come on MULN?!? They are not going anywhere

GME, AMC, FFIE, MULN, and GOEV

Hey guys, by now, we all know that, after that many reverse splits, stock drops, and undelivered cars, the situation is bad, at least. But I decided to dig a little deeper into Mullen’s history, and I think that things were off from the very beginning.
Mullen Automotive went public in November 2021 with big promises, positioning itself as an EV innovator with cutting-edge technology and game-changing vehicles.
But by early 2022, despite the announcements, Mullen failed to deliver its promises of launching the Dragonfly K50 supercar or the MX-05 electric SUV. A [Hindenburg Research report](https://hindenburgresearch.com/mullen/) revealed that the company inflated battery performance claims, overstated production capabilities, and continued to take reservations for vehicles it couldn’t deliver. (at this point, even if we don’t trust all these reports, the situation was weird, imo)
On top of that report, Mullen was also accused of rebranding Chinese EVs, lacking EPA certifications to sell vehicles in the U.S., and overstating partnerships with companies like Qiantu Motors. When all these issues came to light, Mullen’s stock plummeted over 90% from its IPO highs (not a surprise at all, tbh). Afterward, investors filed a lawsuit against the company.
https://preview.redd.it/lvkkdiau7z0f1.png?width=817&format=png&auto=webp&s=c31cfa4410b28024d8baf1b868d3cdaa58ba2c02
Fast forward to today, [Mullen has agreed to a $7.25M settlement ](https://11th.com/cases/mullen-investor-settlement)to resolve these claims. So, if you bought shares during the IPO hype and were impacted, you might be eligible to file a claim and recover some of your losses. They’re still accepting claims even though the deadline has passed.
Now, the reality is that Mullen is still struggling. The company burns through $50M per quarter while generating minimal revenue, raising doubts about its long-term viability.
Anyways, do you think MULN was doomed from the start? And for those who held $MULN shares back then, how much did you lose?