Most active stocks look shiny and promising to any novice but the majority of them end up playing roller coaster games in trading sessions. As we all remember OCGN, ZSAN, ZOM, BNGO, SNDL, HEXO couldn’t surpass $5 or $10 values due to overselling activities after they got up to new highs. One of the most popular EV stocks, Mullen (Nasdaq: MULN) is trying so hard to get out of the trap created by the day traders who like to buy low and sell high within hours. Most of the time they don’t short stocks like Exchange Traded Funds (ETF).
MULN will continue being an exchange card of day traders until the company enters the positive territory of EPS. However, its fans may support buying the MULN shares in bulks to overthrow daytraders from the bandwagon. Moreover, a solid brand awareness campaign can also push the stock above cheap prices like under $1, under $5, under $10 while the company is advancing in the polymer battery pack.
On Monday the stock may rise but the Tuesday trading session will most ruthlessly pull it to under $2 value. So this kind of routine is repeating all over again by making Mullen popular in stock exchanges but less famous in the real business world. Let’s wish MULN all the best, farewell to the daytraders.