Financial Website Insider Monkey Names Mullen Automotive a Top Penny Stock to Buy in March
Mullen Automotive (NASDAQ: MULN) has been recognized as a top penny stock with significant growth potential, according to Insider Monkey. The company, known for its innovations in electric vehicles, boasts 120 technology patents and is focusing on solid-state battery development, promising over 600 miles of range. CEO David Michery highlights partnerships with firms like hofer powertrain and Comau to enhance production capabilities. Mullen is set to launch its FIVE EV crossover, recently awarded 'Top Zero Emission SUV' at the LA Auto Show.
- Named a top penny stock by Insider Monkey, indicating strong growth potential.
- Possesses over 120 technology patents, showcasing innovation.
- Development of solid-state EV batteries offering over 600 miles of range.
- Strategic partnerships established for improved manufacturing and diagnostic capabilities.
- Mullen FIVE awarded 'Top Zero Emission SUV' at the LA Auto Show.
- Dependence on successful launch of the Mullen FIVE for future growth.
- Risks associated with achieving objectives within anticipated timelines.
- Potential challenges in securing additional financing and maintaining contracts.
BREA, Calif., March 09, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces that a recently published article by Insider Monkey has named $MULN a top penny stock with enormous growth potential to invest in during the month of March 2022. Founded in 2010, Insider Monkey is a finance website that uses a proprietary strategy to identify the best stock picks from exceptional hedge funds and insiders.
“Mullen has tremendous long-term growth potential, and I am glad to see that being recognized,” said David Michery, CEO and chairman of Mullen Automotive. “As mentioned in the article, our work in solid-state EV battery development, with over 600 miles of range, along with 120 technology patents in 24 countries are just a couple among many reasons why folks should have MULN on their radar.”
The Insider Monkey list was curated based on stocks with enormous growth potential in biotech, energy, cybersecurity and other technology sectors. Upcoming growth catalysts, analyst ratings and business fundamentals of each stock were taken into consideration to identify the most exciting ones. The hedge fund sentiment around each stock has been derived from Insider Monkey's database of 924 elite hedge funds and was provided to give readers better context for their investment choices. The full article is available to read here.
Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. The Company expects these strategic developments to play a crucial role in bringing the Mullen FIVE EV crossover to market with the latest technology and in the least amount of time. Mullen FIVE was named "Top Zero Emission SUV" as part of the ZEVA® Awards at the Los Angeles International Auto Show in November 2021, where it made its debut.
The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly DifferentTM” and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.
About Mullen
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the Company will achieve its objectives of launching its EV crossover, the FIVE, within anticipated timelines and, if so, whether the FIVE will be a success; and whether the Company’s partnerships with ARRK, Dürr and DSA Systems and Over the Air (OTA) will result in expediting the rollout of the FIVE. Additional examples of such risks and uncertainties include, but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers and parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
Wire Service Contact:
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com
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