EV (electric vehicle) maker Mullen Automotive (NASDAQ: MULN) is at a key inflection point. The company is involved with some groundbreaking initiatives that, if they come to fruition, will change the EV (electric vehicle) space. Mullen Automotive (NASDAQ: MULN) Is Changing the EV (Electric Vehicle) Space
Traders and investors are increasingly using social media to stay up-to-date on market trends. StockTwits is one of the most popular platforms for this purpose.
Electric car
Electric cars have been around for a while, but they have only recently become a mainstream alternative to their gasoline-powered counterparts. The idea behind them is simple: Electric vehicles don’t have an internal combustion engine, so they use battery power to run instead. They’re a popular choice for several reasons, including a lack of noise and pollution. In addition, electric cars are a lot cheaper to buy and maintain over the long term, which is something you can’t say about gas-powered vehicles.
EVs also tend to have a longer range than gas-powered cars, so you can drive more distance without having to recharge your vehicle every few miles. Researchers have predicted that EVs will make up more than 90 percent of all cars in developed countries by 2040. However, the history of the electric car is full of ups and downs. While many technological advances have come about, the electric car has a long way to go before it can match its traditional petrol counterparts in terms of speed and efficiency.
Shares on fire
As expected, resurgence in traders attempting to push up prices on heavily shorted stocks started last week. Now new names on the list are taking over, including Clover Health Investments and Clean Energy Fuels, which both soared more than 30% in early trading Wednesday.
AMC StockTwits has a thriving community of users and is a great resource for real-time market data. However, investors should be careful not to overreact.
The best place to see the biggest EV rally is on the floor of the NASDAQ where shares were up almost 55% at the close Tuesday. MULN stock is the latest to make the move, with brief interest reaching a healthy 43% on Wednesday, nearly double the 22% recorded for similar startups like Hyzon Motors (HYZN), Arcimoto (FUV), and Hybrid Solar (HYBR). A day-to-day close below $0.21 would certainly put the buck down for the cheapest EV on the block. The most impressive thing is that MULN stock hasn’t retracted a single cent from its October lows, which indicates it could continue the winning streak for some time to come.
CEO David Michery
There’s been a lot of buzz surrounding Mullen Automotive (NASDAQ: MULN) in recent weeks, with the stock up over 40% today and over 500% for the past month. Furthermore, message volume containing the MULN ticker is up 300% this month on Stocktwits. David Michery is the driving force behind EVs, and he has plenty of experience in bringing a sustainable future to America. As a result, he’s made it his mission to create a suite of clean energy, electric vehicles that are accessible at various price points.
He’s a well-rounded businessman and entrepreneur who have founded several companies. In addition to running Mullen Automotive, Michery serves as the Chairman and Chief Executive Officer for Mullen Technologies and Primco Management. He also leads Breakaway Entertainment. With over 10 years of experience in both corporate and entrepreneurial roles, Michery knows what it takes to build and manage a successful company. He’s also a strong believer in sustainability and has created 12 trademarks to help develop the brand and vision of Mullen Automotive.
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The future of EVs
The EV revolution is off to a great start. Tesla, Lucid, Rivian, and others have rolled out models with 500-plus miles of driving range and new EV companies are popping up left and right. Investing in the EV market will likely offer investors many opportunities as electric vehicles become more popular, particularly over the next decade. BNEF’s Electric Vehicle Outlook projects 116 million EVs will be on the road by 2030.
There are also several companies that will benefit from increased demand for EVs, including those that make the batteries required for EVs, those that build charging stations, and those that produce semiconductors. Whether these companies grow or not will depend on their ability to meet increasing demand. Despite these obstacles, Muln StockTwits can still find attractively valued stocks that can benefit from the increased demand for EVs. With a team of expert analysts and portfolio managers who follow the evolution of the electric vehicle supply chain, public policy, and consumer trends, you can find a high-growth company that is poised for growth in the EV market.
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