Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter
According to a SEC form filed on Friday evening, Mullen Automotive CEO David Michery sold a total of 150,000 shares at an average price of $1.01017 on Wednesday, June 15. Since mid-March, Michery sold a total of 1.4 million shares. Following this sale, Mullen‘s CEO holds a total of 7.761.066 shares on the company.
Earlier this month, Michery was asked about the recent sales in an interview with Benzinga answering “Just decided to sell some stock, nothing more and nothing less.”
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The last time that Mullen‘s CEO sold shares was on May 26, a couple days before BIC unveiled the battery testing results, which took the share price from $0.97 to $1.40, on May 31.
| 6/15/2022 | David Michery | CEO | Sell | 150,000 | $1.10 | $165,000.00 |
| 5/23/2022 | David Michery | CEO | Sell | 750,000 | $1.01 | $757,500.00 |
| 3/31/2022 | Jonathan New | Director | Sell | 10,000 | $2.99 | $29,900.00 |
| 3/28/2022 | David Michery | CEO | Sell | 300,000 | $2.48 | $744,000.00 |
| 3/18/2022 | Kent Puckett | Director | Sell | 18,611 | $3.00 | $55,833.00 |
| 3/16/2022 | David Michery | CEO | Sell | 200,000 | $1.65 | $330,000.00 |
| 1/18/2022 | David Michery | CEO | Sell | 30,000 | $3.88 | $116,400.00 |
During the last interview with Benzinga in early June, Mullen’s CEO was asked about the insider trading, namely his recent sales. At the time, the host asked: “I do want to ask you, David, about the inside activity here… when I look out to the insider transactions from Mullen, I don’t see a lot of buying… I see some selling of you recently, can you just speak a little bit about the full process there”.
David Michery answered “Just decided to sell some stock, nothing more and nothing less.”
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When asked about other plans to sell more shares, Mullen‘s CEO added that “Every officer or director has an opportunity to sell based on the 1% rule per quarter and they choose to do it they do, if they don’t they don’t. I chose periodically to be able to take advantage of what I am allowed to do under SEC rules”.
The share price closed 5.60% higher on Friday at $1.32 gaining nearly 16% during the last 5 days.
Mullen Stock Performance
| 5 Day | +15.79% |
| 1 Month | +20.00% |
| 3 Month | -54.48% |
| YTD | -74.76% |
| 1 Year | -88.49% |
Mullen Automotive is now working on the announcement deal with a Fortune 500 company for its Class 1 vehicles but is also in negotiations with “major OEMs” to use Mullen‘s battery technology, as recently confirmed by the CEO, David Michery.
While these negotiations do not have a specific date for conclusions, the announcement of the deal with the F500 company and its details will be revealed before the end of the second quarter, i.e. in the next two weeks.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter