MULN Stock Forecast: Mullen Automotive makes new all-time low, falls 20% on week

NASDAQ:MULN fell by 2.6% during Friday’s trading session.
EV stocks were mixed on Friday, closing out a volatile month of trading.
Tesla holds AI Day Event, makes an interesting announcement about the Cyber Truck.

Stocks Reporter FXStreet

Mullen Automotive (MULN) made yet another all-time low price on Friday as the downtrend for the EV startup continues into October. To close the week, shares of MULN fell by 2.6% and closed the trading session at a price of $0.33. Stocks extended their declines on Friday as all three major indices fell deeper into the red with the S&P 500 making a new 2022 low. This closes out a September that saw the worst market performance since the Covid-19 crash in March 2020. Overall, the Dow Jones lost 500 basis points, while the S&P 500 and the NASDAQ fell by 1.5% each during the session.

Mullen Automotive stock price

Electric vehicle stocks were once again trading in a volatile fashion on Friday. Shares of Tesla (TSLA) lost 1.1% despite Reuters releasing an updated production projection that would see the company execute a 50% production increase in 2023. Rivian (RIVN) and Nio (NIO) were on the rise as the latter company began deliveries of its much anticipated ET5 sedan that is believed to be a major rival to Tesla’s Model 3.

Tesla is holding its annual AI Day Event on Friday night, and some are expecting a prototype of the company’s Optimus robot. Tesla has long been associated with AI through its FSD software and its much discussed Robotaxi. CEO Elon Musk originally stated that full FSD would be ready by 2016, but to date there have only been beta releases with plenty of glitches. The AI Day Event typically does not have a lot to do with its vehicles, but it does provide insight into the future direction of the company.

MULN stock performance 9/30/22

Author

Stocks Reporter

FXStreet

GBP/USD flirts with weekly highs in the Fed's aftermath

GBP/USD reversed early losses following the Federal Reserve decision to keep rates on hold and neared the 1.3360 level before shedding some ground. Focus shifts to Governor Kevin Warsh's speech, while the Bank of England will announce its monetary policy decision on Thursday.

EUR/USD extends rally pass 1.1450 on Fed's Warsh

EUR/USD trades at fresh weekly highs above 1.1450, following the Federal Reserve monetary policy decision to keep interest rates on hold. The statement showed policymakers remain confident in economic progress while blaming inflation on energy prices. The divided vote among officials put in doubt a September hike, leading to sharp US Dollar losses.

Gold hovers around $4,100 as Fed decision hits the USD

Gold surged following the Federal Reserve's decision to keep the benchmark interest rate unchanged at 3.50%-3.75%. Policymakers noted that inflation remains elevated and that economic activity is expanding at a solid pace despite elevated uncertainty, spurring doubts about a rate hike in September. XAU/USD peaked above $4,100, now battling to retain the level.

No soft target: Warsh vows to return inflation to 2%

The Fed left interest rates unchanged at 3.50%-3.75%, but the decision carried a distinctly hawkish edge as three officials voted for an immediate 25-basis-point increase. Chair Kevin Warsh reinforced that message, insisting there was no tolerance for a softer inflation target and warning that the Fed would not hesitate to act.

How the CLARITY Act unlocks Wall Street’s tokenization pipeline

The United States (US) Digital Asset Market Clarity Act (CLARITY Act), awaiting a full Senate floor vote, promises to unlock Wall Street’s potential to tokenize financial assets, including equities, US Treasuries, private credit, real estate and commodities at a scale that could supercharge the real-world asset (RWA) market from the current $17 billion level to $5.5 trillion by 2030, according to

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.