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Mullen Automotive: Outlook 2023 for NASDAQ:MULN by Tha_Profit

Mullen Automotive is one of those companies alot of investors tend to overlook and dismiss, despite this $MULN seems to stay in the headlines. Usually it’s about a new partnership, a working deal, new hires, acquisitions, or the oft cited ELMS plant, among others.
One headline that caught my attention recently was that the Cost to Borrow on Mullen Automotive had increased to a whopping 1,200%, an 8,000% increase in only a few weeks. While it has since cooled down to a more manageable 160%, the CTB still remains scalding hot. Now mind you, when Gamestop squeezed from $9 to $450 the CTB rate was only at 100%
It’s my theory that shorts are over leveraged. I recently sold a few deep otm puts to anyone who was daring enough to buy them, during which time Mullen continued to drop from 60ish cents down to less than 20. But my contracts actually increased in value. That can only mean whoever bought my puts isn’t making any cash, because well, I am.
I firmly believe that shorts know they’re in trouble, and the only way out for them is to completely bankrupt the company and force it to delist. In which case they get off scot-free and have no obligation to repay their shares on loan.
Reading any article written by certain organizations in particular they show their hand. The news can be wonderful and they will find a way to cast doubt, skew the facts, bring up old news or outright lie. If you figured out I was talking about InvestorPlace, congratulations!
Recently, more bullish articles and analysts have begun taking a serious look at what CEO David Michery has managed to accomplish in 2022 and early 2023, his list of milestones and achievements is impressive to say the least (I won’t list them all here for space reasons, and quite frankly, there are so many catalysts I forget them all, it’s that good)
A recent look at Mullen Automotives business dealings is enough to persuade savvy investors, as it’s apparent that he is setting the company up for production and distribution. That said, Mullen Automotive has secured numerous deals totalling tens of thousands of vehicles worth hundreds of millions if not billions of dollars in valuation.
It’s easy to bash a start-up, almost too easy. And most of the time, with these types of companies in a bear market, the shorts have been right. But it is this writers opinion that this time, the shorts are dead wrong. Only time will tell tho, but as for me.. I Like the Stock.
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