(Nasdaq: MULN) Shoots Green Quickly On Major Purchase Order From The University Of Virginia (Low Float)

Huge news this morning!

StockWireNews (Nasdaq: MULN) Shoots Green Quickly On Major Purchase Order From The University Of Virginia (Low Float) August 12th Greetings Readers, Huge news this morning! (Nasdaq: MULN) just announced another important purchase, this time from the University of Virginia. Take a look: University of Virginia Purchases Additional Mullen Commercial Vehicles, Which Follows Recent Significant 180 Electric Vehicle Order from Eco Auto Valued at $7.7Mn BREA, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, today announces the commercial EV purchase of the Mullen ONE, Class 1 EV cargo van, with the University of Virginia in Charlottesville, VA ("UVA"), for its fleet of commercial vehicles. The order will be fulfilled by Mullen's commercial retail dealer partner, Randy Marion Automotive Group ("RMA"), based in North Carolina. This delivery is a follow-on purchase to UVA's original commercial vehicle order from 2023. Additionally, this UVA order follows on the heels of the recently announced significant $7.7Mn, 180-vehicle order, from dealer partner Eco Auto. This growing demand underscores the increasing market for Mullen's electric commercial vehicles. ... This partnership with Mullen marks a second purchase and a major step forward in the university's commitment to sustainability and reduced carbon emissions. By incorporating the Mullen 1 EV cargo van into its campus operations, the university can further reduce its environmental impact while enhancing efficiency and cost-effectiveness. UVA has selected the Mullen ONE for its zero-emission operation, efficiency and compact design, making it an ideal fit for the demands of campus life. "We are proud to partner with the University of Virginia in their mission to create a more sustainable campus," said David Michery, CEO and chairman at Mullen Automotive. "We're seeing a significant and growing demand for electric vehicles in the higher education sectors as universities lead the transition to clean energy. We are confident that our vehicles will contribute significantly to UVA's sustainability initiatives." ... Read the full article here. As this news continues to spread, it may provide a significant spark when you consider the few shares (less than 12Mn) MULN has in its float. Factor in several oversold technical indicators heading into today's bell for MULN, and we may see a potential healthy reversal get sparked, too! Take a moment to review my (Nasdaq: MULN) report below right now and get this profile on your screen quickly! ----- Was Friday a wild ride or what? In case you missed it, my latest breakout idea went bonkers. Brought to attention after reaching $.091 at Thursday's closing bell, that Nasdaq profile ran wild to a new 2+ month high of $.3663 ahead of the weekend. The surge resulted in a blast of approximately 302% short term! That's friggin' nuts... And even better, it gave us 3 champs last week when you factor in two other Nasdaq runners put up approximately 18% short term and a swing of 30% intraday (approx.) from its low to high. We're running hot. We know it. Ready for what's next? The world needs help and to lower the damaging impact of fossil fuel dependence, we need sustainable, clean-energy solutions... ... like yesterday. Sadly, we're still struggling to solidify sustainability with the current state of things. It is no longer sufficient to just have lofty ideas and aspirations. For a sustainable future to pan out, there is a need for real solutions that are scalable. And this U.S. based automotive company is building the next generation of commercial electric vehicles (EVs) and energy solutions. Now, this is a low float profile with fewer than 12Mn shares which means volatility needs to be watched for carefully. Additionally, a healthy reversal could be nearing as both this profile's 9-Day and 14-Day Relative Strength Indices were below 20% at close Friday. With game-changing order and dealer expansion news flying under-the-radar in early August, now could be the perfect time to get this little-known Nasdaq idea on your screen before everyone else: *Mullen Automotive, Inc. (Nasdaq: MULN)* Mullen Automotive is a Southern California-based automotive company building the next generation of commercial electric vehicles ("EVs") with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). And last week's news could become one of the ultimate game-changer catalysts to bring breakout buzz to MULN near term. Here's the best part. It may have flown under Wall Street's radar. Take a look:

Eco Auto Expands East Coast Reach into Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine and Vermont Eco to purchase 130 Class 1 EV cargo vans and 50 Class 3 EV trucks over the next 18 months for an estimated value of $7.7Mn, with new deliveries beginning in September 2024 Mullen expands its East Coast reach into Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine and Vermont through Eco Auto

BREA, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, announces today that its Boston area dealer, Eco Auto ("Eco"), a dedicated EV dealer, will expand to cover national fleet opp's in Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine and Vermont to meet the growing demand for commercial EVs and support the Company's full line of commercial electric vehicles in these regions. Eco's expansion includes the purchase of 180 vehicles over the next 18 months for an estimated value of $7.7Mn with new deliveries beginning in September 2024. Headquartered in Tewksbury, Massachusetts, Eco Auto is a national franchise of automotive dealerships with a core focus of making EVs accessible to all. Eco Auto offers a comprehensive electric vehicle experience for customers by providing affordable EVs, hybrid models, advanced charging stations, and expert EV service in state-of-the-art facilities. "Mullen's offerings are unique in the marketplace and they fill a void for businesses of all sizes that are looking for inexpensive, sustainable solutions for their short-distance delivery needs," said Al Salas, Chief Executive Officer of Eco Auto. "We are getting strong market response to the Mullen product line, in line with our corporate growth, and are committed to representing the Mullen EVs." "Our Commercial EVs are extremely versatile for use across multiple sectors," said David Michery, CEO and chairman for Mullen Automotive. "This order and the expansion of Eco Auto to meet demand demonstrates that Mullen EVs are the preferred choice for fleet operators across the nation seeking sustainable transportation solutions."Mullen announced the addition of Eco Auto as its fifth dealer partner in June 2024, focused on the New England area which will now expand to include Pennsylvania, Connecticut, Rhode Island, New Hampshire Maine and Vermont as the Company solidifies its commercial EV footprint across the United States. ..." ... Read the full article here. ----- One reason this news could be huge if is starts to make the rounds is this: (Nasdaq: MULN) Is A Low Float Profile. According to the Yahoo Finance website, this profile has approximately 11.04Mn shares in its float. Why is that important? It's important on one crucial level. Volatility. When volatility takes hold of a profile, we can see what we saw with Friday's alert that soared approximately 300% in under 24 hours! Now, that's not to say the same thing is going to happen with MULN, but if more positive company news appears near term, just like what you read above, you'll need to watch this Nasdaq profile ever-so closely. ----- Oversold Technicals May Signal The Coming Of A Mega-Bounce/Healthy Reversal. At close on Friday, Barchart was reporting multiple oversold technical indicators for MULN. These technicals could be signaling a healthy reversal is approaching in the near term. Here's the definition of a "reversal" from Investopedia: "A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart." Here's the technicals to pay close attention to (as of close Friday): 9-Day Relative Strength Index: 15.44% 14-Day Relative Strength Index: 18.58% When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued. 14-Day Raw Stochastic: 0.89% 14-Day Williams %R: 99.11% As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued. Keep an eye on these technicals closely. ----- And here's the must-see August company update that explains the full story:

Company total assets are expected to be approximately $191.4Mn as of June 30, 2024, and will be reported in the Company's quarterly report to be filed on or about Aug. 12, 2024 Company cash on hand exceeds current market capitalization Mullen has achieved all federal and state regulatory requirements for Class 1 and Class 3 commercial vehicles and is actively manufacturing and selling Class 1 and Class 3 commercial vehicles across the U.S. BREA, Calif., August 06, 2024– via InvestorWire – Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, a US-based manufacturer of commercial electric vehicles ("EV"), today shares an update from CEO and chairman David Michery, providing status on various matters and Company initiatives. Dear Mullen Shareholders, Despite challenging economic headwinds where many enterprises are capital-constrained, our balance sheet remains strong, and we have achieved meaningful accomplishments since our last update to shareholders in June 2024. With Company total assets expected to be approximately $191.4Mn as of June 30, 2024, and a cash position that surpasses our current market capitalization, we believe that Mullen has a strong finan.cial foundation for future growth in our electric vehicle sales. Our team of experienced automotive veterans has successfully navigated the complex regulatory landscape achieving all federal and state regulatory requirements and qualifying for multiple state level incentives that will help make our EVs more affordable, promoting additional sales. Mullen is actively manufacturing and selling both Class 1 and Class 3 commercial electric vehicles across the United States, demonstrating our commitment to bring clean transportation solutions to market. Additionally, our B4 Class 4 electric truck, offered through our Bollinger Motors subsidiary, has achieved EPA certification, a major step forward as manufacturing begins in the second half of 2024. As of Aug. 6, 2024, we are proud to highlight the following accomplishments: Securing Finan.cial Resources for Growth As recently announced, we have secured $250Mn in new fin-an-cing commitments, providing us with the fin-an-cial resources to accelerate our growth plan. ... Expanding Our Sales and Distribution Reach Mullen expanded its distribution network to six dealerships and has added five new commercial dealer partners during the quarter. Bollinger Motors, our electric truck subsidiary, has announced four commercial dealers throughout the U.S. The Company is actively engaged in adding more dealer partners and further expanding our retail distribution network across the U.S. and internationally. Wi-nn-ing New Customers and Delivering Vehicles Bollinger Motors has reached agreements to sell over 200 B4 commercial Class 4 EV trucks to-date. The Company recently expanded its international distribution with orders received from our authorized dealer, GAMA, based in southeastern Europe, for commercial EVs, including the Mullen GO, a micro urban delivery vehicle, and Class 1 and 3 EV cargo vans and trucks. Mullen is actively engaged in negotiations with major telecoms, large fleet providers, delivery companies, universities, local municipalities, government agencies, and airport service providers to expand our customer base and market share. Importantly, the Company's Tunica, Mississippi, commercial vehicle center has manufactured hundreds of our Class 1 and Class 3 electric vehicles in 2024 and we've begun to fulfill our previously announced orders from our facilities proudly based in the United States. Developing Technologies for Future Growth The Company is advancing its solid-state polymer pack program and is continuing to conduct battery and vehicle testing since Class 1 EV cargo van road testing began in February 2024. Recently, the Company has identified lead suppliers for development and components and issued initial purchase orders to support this pivotal program. The Company expects to have the solid-state polymer packs fully certified for production and sale in the second half of 2025. These achievements are a testament to the hard work and dedication of our team, and we are excited about the opp's ahead. We remain focused on delivering value to our shareholders through innovation, operational excellence and strategic partnerships. Read the full CEO update here. ----- Coverage is officially initiated on Mullen Automotive, Inc. (Nasdaq: MULN). Between its low float, a recent game-changing order, key oversold technicals, and a CEO update pointing towards a company with strong growth potential, (Nasdaq: MULN) needs to be on your radar right now. I'll be in touch with updates soon. Talk again shortly. Sincerely, Kai Parker StockWireNews (Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)

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