Accolades From a Leading Auto Site Aren’t Helping MULN Stock
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Mullen Automotive (NASDAQ:MULN) a short while ago shared that it was named an electric auto (EV) startup “to look at out for.” Having said that, this has very little to do with the MULN inventory cost. Many traders could have acquired by now to shrug off these marketing and advertising messages as minimal much more than insignificant information.
Most accolades do not quantity to considerably over the lengthy term. It’s tough to recommend that remaining named to an auto web page list will have considerably of a good impact for a sustained period of time of time.
Situation in level: The Lucid (NASDAQ:LCID) Air received the 2022 MotorTrend Car of the Year award on Nov. 15 of previous yr. That coincided with LCID inventory charges spiking 25% over 24 several hours to $55. But it did not past. Lucid’s share value has sloughed off extra than 60% of its price considering the fact that.
Legitimate, they are distinctive companies and Lucid’s difficulties aren’t the exact same as those people Mullen Automotive faces. But it has to be observed that MotorTrend’s Vehicle of the Calendar year award is significant.
Mullen has been named on a couple sites. The website that gave the organization its most new accolades is a substantially considerably less influential publication than MotorTrend, for one particular. Further more, that post was posted back at the extremely conclusion of 2021.
Fundamentally, the post that Mullen Automotive printed on its trader relations web-site on April 18 was a compilation of shout outs from web sites and media sources. All of them transpired in February or previously.
In small, there is not significantly to be aware right here. There definitely is not everything in the investor relations publishing that really should persuade buyers to hurry out and get MULN stock. In other words and phrases, Mullen Automotive seems no far more appealing than it did right before. And with costs heading downward in excess of the final thirty day period, now is no time to be notably optimistic.
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On the day of publication, Alex Sirois did not have (possibly instantly or indirectly) any positions in the securities outlined in this write-up. The views expressed in this article are these of the writer, subject matter to the InvestorPlace.com Publishing Tips.