Accolades From a Leading Auto Site Aren’t Helping MULN Stock

Mullen Automotive (NASDAQ:MULN) not too long ago shared that it was named an electric auto (EV) startup “to view out for.” Even so, this has small to do with the MULN inventory rate. Several investors could have realized by now to shrug off this sort of advertising and marketing messages as minimal far more than minor information.

Most accolades do not volume to significantly over the long phrase. It’s hard to propose that remaining named to an auto website record will have a great deal of a good outcome for a sustained interval of time.  

Case in place: The Lucid (NASDAQ:LCID) Air won the 2022 MotorTrend Motor vehicle of the Yr award on Nov. 15 of past 12 months. That coincided with LCID stock costs spiking 25% about 24 several hours to $55. But it didn’t past. Lucid’s share rate has sloughed off far more than 60% of its worth due to the fact.

Correct, they are various organizations and Lucid’s complications are not the exact as those Mullen Automotive faces. But it has to be observed that MotorTrend’s Automobile of the Year award is key. 

Mullen has been named on a few internet websites. The web site that gave the company its most the latest accolades is a significantly a lot less influential publication than MotorTrend, for 1. Even further, that write-up was released back again at the incredibly finish of 2021. 

Basically, the report that Mullen Automotive published on its trader relations website on April 18 was a compilation of shout outs from web sites and media resources. All of them occurred in February or before. 

In quick, there’s not a lot to observe in this article. There undoubtedly is not nearly anything in the investor relations publishing that really should persuade buyers to rush out and purchase MULN stock. In other text, Mullen Automotive appears to be no additional attractive than it did prior to. And with costs heading downward in excess of the previous thirty day period, now is no time to be specifically optimistic. 

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On the date of publication, Alex Sirois did not have (possibly immediately or indirectly) any positions in the securities pointed out in this post. The thoughts expressed in this posting are these of the author, issue to the InvestorPlace.com Publishing Recommendations.