MULN stock falls further on Wednesday after Tuesdays losses
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- MULN stock continues to suffer, closing down 7% on Tuesday.
- MULN stock is suffering in the wake of a negative report from Hindenburg Research.
- MULN stock is now down to $2.47 from highs above $4 in late March.
Update: The hangover from the Hindenburg report appears to be continuing for MULN stock on Wednesday as it loses more ground in the early stages of the regular session. MULN stock is trading at $2.4 for a loss of 3% after just seven minutes of Wednesday's session. Investors are still digesting the various newsflow in relation to the company and as far as we are aware MULN has not commented on the recent developments. Social media remains the place where traders are going to look for more info, never a great hutning ground for timely and accurate information.
MULN stock lost more ground on Tuesday as investors continue to digest and argue over the Hindenburg report. MULN stock had attempted to open positively on Tuesday as the overall market was buoyed by the core CPI number actually being less than expected. Risk assets looked to outperform after recent losses and MULN stock opened flat before trading modestly higher. However, as the session wore on it was not just MULN that suffered a turnaround. Risk appetites wanted and equities closed lower. MULN stock was not immune and dropped sharply to close 7.1% lower at $2.47.
MULN stock news
Really there is not much fresh information to go over here. We had the sharply critical Hindenburg report calling Mullen another fast-talking EV hustle. Then there was some form of additional commentary earlier this week from a youtube interview with the CEO of the battery testing company that tested Mullens battery. All in all, confusion reigned and that was part of the reason for the recovery in MULN stock earlier this week. Volatility after all is a key feature of the stock.
So confusion raged and the debate kicked off on social media with MULN stock remaining high on the most discussed lists of many stock sites. Short interest was mentioned as it appears to have grown above 20%. But with the huge recent volume, the days to cover have lessened so this will reduce pressure on shorts positions to cover. Tuesday's price fall will also naturally lessen pressure on short positions.
MULN stock forecast
Each spike in MULN stock is generally met with a sell-off and each spike fails at a lower and lower level. So a classic downtrend. This is high-risk penny stock investing so take necessary caution. Penny stocks are notorious for volatility among other issues. MULN stock looks to be headed straight back down, the spike has failed, and now support at $2.06 is likely to be broken. Next up below is a test of $1.
MULN stock chart, daily
- MULN stock continues to suffer, closing down 7% on Tuesday.
- MULN stock is suffering in the wake of a negative report from Hindenburg Research.
- MULN stock is now down to $2.47 from highs above $4 in late March.
Update: The hangover from the Hindenburg report appears to be continuing for MULN stock on Wednesday as it loses more ground in the early stages of the regular session. MULN stock is trading at $2.4 for a loss of 3% after just seven minutes of Wednesday's session. Investors are still digesting the various newsflow in relation to the company and as far as we are aware MULN has not commented on the recent developments. Social media remains the place where traders are going to look for more info, never a great hutning ground for timely and accurate information.
MULN stock lost more ground on Tuesday as investors continue to digest and argue over the Hindenburg report. MULN stock had attempted to open positively on Tuesday as the overall market was buoyed by the core CPI number actually being less than expected. Risk assets looked to outperform after recent losses and MULN stock opened flat before trading modestly higher. However, as the session wore on it was not just MULN that suffered a turnaround. Risk appetites wanted and equities closed lower. MULN stock was not immune and dropped sharply to close 7.1% lower at $2.47.
MULN stock news
Really there is not much fresh information to go over here. We had the sharply critical Hindenburg report calling Mullen another fast-talking EV hustle. Then there was some form of additional commentary earlier this week from a youtube interview with the CEO of the battery testing company that tested Mullens battery. All in all, confusion reigned and that was part of the reason for the recovery in MULN stock earlier this week. Volatility after all is a key feature of the stock.
So confusion raged and the debate kicked off on social media with MULN stock remaining high on the most discussed lists of many stock sites. Short interest was mentioned as it appears to have grown above 20%. But with the huge recent volume, the days to cover have lessened so this will reduce pressure on shorts positions to cover. Tuesday's price fall will also naturally lessen pressure on short positions.
MULN stock forecast
Each spike in MULN stock is generally met with a sell-off and each spike fails at a lower and lower level. So a classic downtrend. This is high-risk penny stock investing so take necessary caution. Penny stocks are notorious for volatility among other issues. MULN stock looks to be headed straight back down, the spike has failed, and now support at $2.06 is likely to be broken. Next up below is a test of $1.
MULN stock chart, daily
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.