With a $310.67 million market cap, Mullen Automotive, Inc. (MULN) manufactures and distributes electric vehicles. In addition, the company operates CarHub, a digital platform that leverages AI to provide an interactive solution for buying and selling a car. It also offers battery technology and emergency point-of-care solutions.
Investors have been bearish about MULN due to its deteriorating financials and declining market share. In a filing with the U.S. Securities and Exchange Commission (SEC), the company admitted, “Since inception, we have incurred significant accumulated losses of approximately $278.9 million, and management expects to continue to incur operating losses over the near future.”
