What Happens if Your EV Company Implodes? That’s the Mullen (MULN) Dilemma

With electric vehicle juggernaut Tesla (TSLA) demonstrating the viability of new energy vehicles, it was practically inevitable that EV startups would join the fray. One of the most popular names among speculating retail investors that quickly stood out was Mullen Automotive (MULN). Benefiting from a charismatic head executive in David Michery, MULN stock soared to stunning prominence during the early phase of the post-pandemic new normal.

However, the back half of 2021 and the stifling environment of 2022 – when the Federal Reserve imposed an aggressively hawkish monetary policy – rapidly eroded the good fortunes of the EV hopeful. Despite multiple reassurances and the disclosures of seemingly promising deals and partnerships, rational investors cut their losses, leaving the ardent bulls to hold the bag. Now, it’s questionable whether MULN has any real support.