Once a popular meme stock candidate, Mullen Automotive, Inc. (MULN) is witnessing a downward spiral, with shares falling close to 100% over the past year. The past month alone has seen a 63.3% drop in share price, with the stock hovering near its 52-week low of $0.10 recorded on July 5, 2023.
While MULN continues to establish partnerships and initiate product launches in an effort to highlight its growth potential within the electric vehicle (EV) industry and spur investors’ optimism, the stock looks poised for further depreciation.
