Mullen Automotive Inc (NASDAQ: MULN) is making new 52-week lows after the stock rallied through Friday topping out just under $0.12 on Monday morning before the bottom fell out and MULN has been dropping since. While Lawrence Harge made a lot of big statements over the weekend including the “10 billion Saudi deal” the shorts were having none of it and have increased their position by over 40 million shares this week to currently over 385 million MULN shares short. 

Many MULN investors are using this opportunity to accumulate more. EchoInvestments who has a fairly large following on twitter tweeted today: ” $MULN – No brainer to buy here. 52-week lows. Stock traders bought 74,406 call options on the stock. This represents an increase of 61% compared to the typical daily volume of 46,288 call options. BUY ORDER .08 cents” We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Is Lawrence Hardge for REAL and why did he go to the hospital? 

As was stated on Reddit here: “Lawrence Hardge was admitted into the hospital today due to exhaustion. Mullen Auto Lawrence would like everyone to know he was admitted to a hospital for exhaustion. He wants everyone to know that the team is working on all of the exciting news. Big things coming. He is scheduled to be back Monday. Keep him in your prayers. L. Harge stated: “I’m gonna come back heavy. I was admitted into the hospital yesterday after the press release from exhaustion. I will be released tomorrow and back on the job Monday. My team has everything under control. Thanks everyone!” Lawrence Hardge”

Time to start reversal @hardge_law87778 $MULN pic.twitter.com/xtPyDh01GX

— Mullen (@007bull07) April 27, 2023

The shorts have attacked L. Hardges credibility suggesting his Energy Management Module (“EMM”) (black box) technology has no value and this has been successful as we have seen little proof that it works.  

We can say that L. Hardge has certainly gotten far for someone whose technology does not work. The man holds over 120 intellectual prototypes as well as numerous patents and trademarks. As a kid he invented the Knock Out 360 Fire Extinguisher, one of the only extinguishers in the U.S. market that is UL approved for use in electric vehicle fires. More recently L. Hardge signed a $5 million contract with Mullen, a $688k contract with the District of Columbia, Washington, D.C., for the purchase and installation of Energy Management Module units on Chevrolet Bolts within the D.C. city government’s vehicle fleet and met with 2 Saudi investors with whom he discussed on Camara a $10 billon deal with Saudi Arabia. 

@inventUSA $MULN Stop the cap 🧢 Anybody can tell why this man was ignored, not taken seriously, not given a chance, automatically shut down by some major auto companies. @DavidMichery both underdawgs fighting hard to offer innovative and game changing products.⚡️⚡️#muln #mullen pic.twitter.com/iPLtQuIMBV

— The Finesse Monster ACTIVIST BULL (@FinesseMonster1) April 20, 2023

Also, there is the testing from Mullen itself. Shortly after Mullen and L. Hardge formed their partnership earlier this month, Mullen reported that vehicle testing of a high-volume OEM electric vehicle by Element resulted in a calculated increase in range from 269 to 431 miles, which is a 60% increase in efficiency. EMM technology was also tested by Mullen on the Company’s Class 1 EV Cargo Van and results showed more than a 75% increase in range for the 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles at a very low added cost and mass.” 

These are huge numbers. As L. Hardge recently pointed out during his livestream with Paul Finkelstein: “Big 3 Auto Company stated every 10% increase in Mileage worth extra $1 Billion.” L. Hardge….. at 36.45-minute mark   

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More on the Saudi Deal, Production News  

$10 billion Saudi deal: During the live streams last week L. Hardge stated: “This is not what somebody said or what you heard, this is reality. $10 billion contract with Saudi Arabia. And more to come … Mullen and Lawrence Hardge are here to assist them, they have countries like Yemen, Israel, all of them have joined in to take this technology, and they’re going to produce it in Saudi Arabia and they’re also paying for a manufacturing plant to come to Michigan. That’s in black and white. So, the SEC if you’re watching, that’s already agreed upon.”

Lawrence Hardge also stated over the weekend that: “We have some mega large announcement. They will be signing this week in DC. While it is unknown if Lawrence was referring to the $688k contract with the District of Columbia, Washington, D.C. or if there is still another major contact coming this week. We do know however that this was not the Saudi deal which Lawrence has said will be coming within the next 2 weeks.

 We have something big coming Subscribe Right Now!

Production news – last we heard from Mullen on this is the Company stated: “Our current plan is to start production of the Mullen FIVE in the fourth quarter 2024, first quarter of 2025. Bollinger B4 start of production is planned for the first quarter of 2024. Mullen owns a 60% controlling interest in Bollinger Motors after investing $148.2 million in cash and stock. The acquisition is Mullen’s first EV acquisition and propels the Company into the medium-duty truck classes 3-6, along with the B1 and B2 sport utility trucks. We will be updating on MULN when more details emerge so make sure you are subscribed to Newsytrends.com by entering your email below. 

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.