Penny NASDAQ: NETE struggles with volatility while its electronic payments business is running well. Recent Net Element’s intent letter to merge with California based electric automaker Mullen has caused significant growth in NETE, from $4.54 to $8.88 gain tells a lot about this stock’s future.
If they really merge Mullen Dragonfly K50 will have a successful launch in 2021 grabbing some share from the electric sports cars’ market. As the cost of batteries gets lower Mullen could offer a cheaper and faster car to zero-emission fans.
Till this fall the possible merger of Mullent and Net Element may happen. Therefore, adding the cheap NETE to the watchlist might be a strong cause for successful portfolio management.