Is Mullen (MULN) Breaking Downtrend?

When everything got red Mullen stock rose 8.96% being the second largest in volume after AVCT in the category of under $2 penny stocks. There are still many posts encouraging to quit MULN for its weak income statement but its balance sheet is still strong.

Recently acquired Bollinger may act as a catalyst in creating commercial and pickup trucks. Additionally, its solid-state battery is in the process to be marketed aggressively. Moreover, bankrupt Electric Last Mile might be acquired by Mullen soon for more than $90 million.

Looking at the visionary steps made by Mullen typical long-term investor may start buying up its shares silently to avoid a short squeeze jump. If things go well the largest market share awaits the company with billions of revenue.

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