February 3, 2023

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Accolades From a Leading Auto Site Aren’t Helping MULN Stock

MULN stock - Accolades From a Leading Auto Site Aren’t Helping Mullen Automotive

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Mullen Automotive (NASDAQ:MULN) not too long ago shared that it was named an electric automobile (EV) startup “to look at out for.” However, this has very little to do with the MULN inventory price. Quite a few traders may have discovered by now to shrug off these kinds of advertising and marketing messages as little additional than minimal information.

Most accolades really do not amount of money to considerably more than the prolonged term. It is hard to suggest that staying named to an car site list will have a lot of a beneficial result for a sustained time period of time.  

Situation in place: The Lucid (NASDAQ:LCID) Air won the 2022 MotorTrend Auto of the 12 months award on Nov. 15 of previous year. That coincided with LCID stock charges spiking 25% more than 24 hours to $55. But it did not previous. Lucid’s share rate has sloughed off additional than 60% of its benefit given that.

Real, they are distinctive companies and Lucid’s difficulties aren’t the exact same as individuals Mullen Automotive faces. But it has to be observed that MotorTrend’s Automobile of the 12 months award is big. 

Mullen has been named on a several web sites. The site that gave the company its most current accolades is a much considerably less influential publication than MotorTrend, for a person. Even further, that posting was revealed back again at the pretty conclude of 2021. 

Basically, the posting that Mullen Automotive posted on its trader relations web page on April 18 was a compilation of shout outs from sites and media sources. All of them transpired in February or earlier. 

In limited, there’s not much to note listed here. There absolutely is not just about anything in the trader relations putting up that should really persuade investors to hurry out and get MULN inventory. In other text, Mullen Automotive looks no extra desirable than it did prior to. And with costs heading downward about the final thirty day period, now is no time to be specially optimistic. 

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On the date of publication, Alex Sirois did not have (both right or indirectly) any positions in the securities described in this post. The views expressed in this short article are those people of the writer, matter to the InvestorPlace.com Publishing Pointers.

Alex Sirois is a freelance contributor to InvestorPlace whose particular inventory investing design and style is targeted on lengthy-expression, get-and-hold, wealth-setting up stock picks.Obtaining labored in quite a few industries from e-commerce to translation to schooling and using his MBA from George Washington College, he brings a various established of expertise by way of which he filters his producing.