Mullen’s CEO sold 200k shares on March 16th for $0.33M but still owns 8.2 Million shares

Written by Cláudio Afonso |

Mullen’s CEO, David Michery, sold 200k shares on March 16th when the stock was trading at $1.65 owning now 8,191,120 shares of the EV maker, according to SEC’s filing. The stock rose 18.85% on Friday (closing at $2.90) and went up 114.81% in 5 days with huge volume. On Friday, more than 445M shares of the company were traded, compared to its 65 day average volume of 74.93M.

SEC’s Filing (Source: SEC)

The company was recently featured on Yahoo Finance where reporters Rachelle Akuffo and Brad Smith identified Mullen’s progress on solid-state battery technology and positive coverage on CarBuzz. Also the strong performance in a recent EV market study, and significant domestic presence as being the top reasons contributing to the uptick in the Company’s stock performance.

Last week, Mullen’s CEO was on the 199th episode of Risk On Podcast on Wednesday and 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. Mullen’s CEO mentioned the importance of Elon Musk for the EV sector: “Every EV in the space, no one would be here today if it wasn’t for Tesla and Elon Musk.”


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.” CarBuzz also enhanced that the model is “designed and engineered in the U.S. and set to be built here in the U.S. as well”.

Recently, Mullen Automotive posted 12 new job vacancies on Indeed, the worldwide employment website. From the jobs posted, the company seeks for a Homolation Engineer that must “understand full regulatory requirements for North America, Europe and other regions per potential target markets”. Check the fully detailed job vacancy here and all the jobs available for the company here.

On March 10th, EV posted an exclusive article reporting that Acuitas Group Holding had bought 18 Million shares of Mullen Automotive, reaching a 10% ownership on the EV maker. At the time, Mullen shares were trading at .99$ but quickly skyrocketed to positive territory having reached $1.45. The stock closed the session at $1.35, up 26.17% on the day and was the second most traded on the last session with 251.51M shares traded.

Written by Cláudio Afonso |