Written by Cláudio Afonso | email@example.com
According to a SEC filing revealed today, Mullen‘s President of Automotive Division accquired 100,000 shares on April 8. Mullen’s President Calin Popa owns now a total of 159,729 Mullen shares. Popa’s transaction nature was Type A — Grant, award or other under Rule 16b-3(d) and represents a direct ownership.
On April 1, Mullen’s CEO David Michery, filed a SEC form announcing changes in beneficial ownership with transactions made betwen March 22 and March 28, 2022. Michery sold 300,000 shares at an average price of $2.495 ($748,500 USD), disposed of 428,382 contracts and acquired 1,198,328 contracts. Last December, Michery had filed a form disclosing ownership of 22,174,720 shares of Mullen — 62.5% ownership.
|Issuer Name||Mullen Automotive Inc (OQ:MULN)|
|Insider Name||Popa Calin|
|Relationship as filed with regulators||Officer|
|Reporting Person Address||1405 PIONEER STREET|
|Amendment Sequence||Original Filing|
|SEC Accession No.||0001209191-22-024069|
|Form Row No.||1|
|Filing Date/Acceptance Time||2022-04-11 09:24PM ET|
|Transaction Date||Apr 08/22|
|Security Type||Common Stock|
|Transaction Nature||A – Grant, award or other under Rule 16b-3(d)|
|Ownership Type||Direct Ownership|
|# or Value Acquired or Disposed of||100,000 F1|
|Unit Price or Exercise Price||$0.0000|
On April 8, The host of Risk on Show Podcast interviewed Tom Gage, the engineer who tested Mullen’s batteries confirming its results. The episode came one the day after Hindenburg Research Firm claimed that the electric vehicle maker “apparently misrepresented the test results, according to the CEO of the company that performed the tests”.
After the initial disclosure revealing the short position taken on Mullen shares, the research firm enumerates several reasons to justify its position on Mullen. Nate Anderson, founder of Hindenburg Research, is known for targeting companies that he thinks are overvalued and have suspect financials. The CEO had also other electric vehicle makers as a target like Nikola Corp. and Lordstown Motors.
After extensive research, we have taken a short position in shares of Mullen Automotive. This report represents our opinion, and we encourage every reader to do their own due diligence. Please see our full disclaimer at the bottom of the report.Nate Anderson, founder of Hindenburg Research
Mullen Automotive announced this Monday the promotion of Mullen executive John Taylor to the role of senior vice-president of Global Manufacturing and Strategic Planning. Taylor joined Tesla in 2010 being one of the first 50 employees, leading the advanced manufacturing engineering group. Taylor played a critical role in opening Tesla’s Fremont facility and manufacturing operations for the Tesla Model S and architecture for future EV projects.
On April 1, Mullen Automotive CEO David Michery filed a SEC form announcing changes in beneficial ownership with transactions made betwen March 22 and March 28, 2022. Michery sold 300,000 shares at an average price of $2.495 ($748,500 USD), disposed of 428,382 contracts and acquired 1,198,328 contracts. Last December, Michery had filed a form disclosing ownership of 22,174,720 shares of Mullen — 62.5% ownership.
In late March, Mullen’s CEO unveiled many catalysts for the American EV maker (Full interview here). Michery was one of the guests of Benzinga Listmaker Show showed confidence when asked about the chip shortage issues: “We’re fairly confident that we identified enough partners to ensure that we’re not gonna to have any delays in the builds of our products”. The Company has two electric vehicles under development, one of which we expect to begin delivery of in the second quarter of 2024.
Recently, the company announced that it expects to report in excess of $65 million in cash and cash equivalents when it files Form 10Q for the Company’s second quarter ending March 31, 2022. “We’ve made tremendous progress in key areas over the past three months,” said David Michery, CEO and chairman of Mullen Automotive. “With the financing we received, we now have more than enough capital to execute on our commitments for 2022, including the start of the Mullen FIVE EV Crossover program and continued development on the Mullen ONE EV Cargo Van program. The Company’s balance sheet is the strongest it has ever been in our history.
Recently and related to Mullen‘s article published by Wccf Tech, CEO David Michery enhanced the supporters that have been bringing a lot of attention to the EV maker during the last weeks. The Wccf Tech article highlights the continued interest Mullen is seeing from a growing fan base for the Mullen FIVE EV Crossover. Mullen’s CEO was recently on the 199th episode of Risk On Podcast on Wednesday. Michery talked about Mullen’s origins, the design options to increase the performance, the battery tech updates. Also Mullen’s loan status and the acceptance of Bitcoin as a payment were among the themes.
Recently, CarBuzz, world’s premier car-related news site and app with over 9 million monthly visits, highlighted Mullen’s FIVE Model saying that the model is luxury crossover in the fullest sense of the word luxury. The publication says that “the California-based company will be joining Tesla, Rivian, and Lucid as real American competition to legacy automakers as the EV market grows.”
Written by Cláudio Afonso | firstname.lastname@example.org