Welcome to our comprehensive video on Mullen Automotive Inc. (NASDAQ: MULN) - your ultimate guide to unraveling the latest developments in this exciting electric vehicle (EV) manufacturer! In this video, we will delve deep into the price action of Mullen's stock on July 26, 2023, and examine how support and resistance levels may impact its future trajectory. But that's not all! We'll also analyze crucial short interest data, hinting at a potential short squeeze that has caught the attention of traders worldwide. And there's more - get ready for some fascinating news about Mullen's partnership with the Shoshoni Native American Tribe for green initiatives at Harrah's Northern California Casino. 🌱💚
Let's dive right into the numbers! On July 26, Mullen's stock opened at 12.82 cents, slightly lower than the previous day's close at 13 cents. Throughout the trading day, the stock experienced some fluctuations, with the high reaching 14.34 cents and the low at 12.3 cents. By the closing bell, the stock showed a modest decline of 3.7 percent. The trading range was wide, spanning 15.91 percent, which is noteworthy. The average volume was 426,146,888, with a daily volume of 241,612,253 shares, indicating heightened interest in the stock. These metrics reveal potential opportunities and challenges that traders need to consider.
Now, let's turn our attention to the news that's making waves in the EV community! Mullen's short interest data is making headlines - with a current short volume of 35,520,000 shares and a change of 31.36 percent compared to the previous month. The dollar volume sold short stands at an impressive $3.83 million. Moreover, the short interest ratio, which indicates the number of days it would take to cover all short positions, is at 0.2. With outstanding shares at 643,380,000 and the float size at 630,890,000 shares, the short percent of float is recorded at 5.63 percent. Today's trading volume of 229,553,233 shares far exceeds the average trading volume of 101,843,375 shares by a remarkable 225 percent! This heightened short interest and trading activity could potentially lead to a short squeeze scenario - a situation in which short-sellers rush to cover their positions, resulting in a rapid upward surge in the stock price. 📊💹
But that's not the only exciting news for Mullen! The company recently announced a groundbreaking pilot program with the Shoshoni Native American Tribe of Northern California and Nevada. The pilot program will involve the evaluation of Mullen's Class 1 EV Cargo Vans and Mullen CAMPUS Delivery Utility Vehicles at Harrah's Northern California Resort & Casino. This collaborative effort sets a powerful example of transitioning to greener alternatives and supporting sustainable transportation solutions. By showcasing the integration of electric vehicles into daily operations, the Shoshoni tribe is inspiring others to explore cleaner and eco-conscious transport options. As the EV market continues to expand, such partnerships are vital in driving positive change and shaping a sustainable future. 🍃🌎
In conclusion, Mullen's stock is currently in the spotlight due to its intriguing price action and short interest data, hinting at the possibility of a short squeeze. The upcoming levels of support and resistance can significantly influence the stock's direction, and traders should carefully watch these critical levels. Additionally, the partnership with the Shoshoni tribe demonstrates Mullen's commitment to green initiatives and the pursuit of eco-friendly transportation solutions. With all these exciting developments, Mullen Automotive is undoubtedly a stock to keep on your radar! So, stay tuned for more updates and analysis as we follow this thrilling journey. Don't forget to like, share, and subscribe for more content like this. Until next time, happy trading, everyone! 🚀📈
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