Despite developing a solid-state EV battery pack, partnering with various logistics firms, and beating recent quarter earnings did not make Mullen shares attractive enough so they could cost at least $10 per unit. Seven hours ago the company unveiled its FIVE Sport Crossover model that is planned to be introduced next year. Due to this announcement Nasdaq: MULN surged by 3.9%. Its physical presentation may not work in increasing the stock price.
Mullen’s biggest counterpart Tesla has purely become popular because of Elon Musk’s intriguing tweets. Mullen is exactly in need of someone’s moral support from social media or public relations. Only an appropriate PR strategy will most probably boost the demand for MULN shares.