Could Mullen (MULN) Stock Climb Over $10 Amid Hiking Google Searches For EV?

Fuel prices are not declining even though crude oil sinks to $108. CO2 emitting vehicle drivers are showing a massive interest in electric vehicles through Google search. Most EV makers are taking advantage of this crisis.

Emerging Mullen is standing right in front of the trampoline to jump higher in revenue and stock price. Additionally, the company is going to deliver the strongest balance sheet in its history. Along with this crisis, Mullen can also come up with a budget model.

Among penny stocks, MULN seems to be risky but attractive. For the past six months, the stock plunged 72% but suddenly it is up by over 50% within a month.

Three months ago the company signed a deal with a Fortune 500 customer for its electric vans. Later, Mullen revealed positive results from its solid-state polymer battery tests.

Continous development will likely make the stock surge higher. The company claims the battery can last over 600 miles of range on a full charge inside Mullen FIVE EV Crossover.

If things go right MULN may jump cosmically. Even a $10 level could be the easiest task for the stock. Currently, Mullen has physical cash to back particular operations. So, we can’t say it is going bankrupt this year yet. Let’s see how long Mullen will struggle and survive during the recession.