How to buy Mullen Automotive (MULN) shares

Mullen Automotive is an electric vehicle manufacturer. Use this guide to find out how to buy Mullen and compare the best places to do so.
Updated: Feb 10, 2023

Where to buy Mullen Automotive stock

Buy MULN right now using one of the brokers below. Our experts have tested these platforms and ranked them according to the features on offer. Sign up and keep reading to learn more about Mullen stock.

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How to buy Mullen Automotive stock, a step-by-step guide

Follow the steps below to buy your first stock. The process is simple and only takes a few minutes, and is the same regardless of which broker you choose.

Choose a broker and create an account

Pick a broker that charges low trading fees and offers the features you’re looking for. For instance, if you want to trade with leverage, then choose a platform that lets you do so. Once you’ve decided on a broker, create an account by providing some of your contact details and a form of ID.

Decide how much to invest

Set a budget based on how much you can afford to lose. Keep enough aside to make sure your financial position is secure and then split the rest over a few different investments. Invest no more than 5% in any one stock in order to protect you in case one of the investments fails.

Research Mullen Automotive and its potential

Follow the advice of legendary investor, Warren Buffett, and only invest in what you know. The electric vehicle industry is volatile and there is a lot of competition. Take the time to research Mullen and understand its business; how can it beat out the likes of Tesla, Rivian, as well as traditional car manufacturers like Ford?

Place an order for MULN stock

Log into your broker account and search for Mullen by typing in the ticker symbol, MULN. Then decide whether to buy at the current market price, or wait for the price to drop to a level you’re more comfortable with. When you’re happy, choose how much money you want to invest in the stock.

Execute your order

Check the details of your order, such as the current share price and the size of your investment, then execute the trade. There may be a short delay between placing the order and the shares arriving in your account, particularly if you bid outside of market hours (9.30-16.00 EST for the NASDAQ).

Review your investment regularly

Follow the latest Mullen news and read the company’s quarterly reports to get a feel for how the business is doing. Part of being a successful investor is knowing when to sell, or when to buy more shares, and the news can help you time those decisions.

What is Mullen Automotive? And should I invest?

Mullen is an electric vehicle manufacturer based in California. It was formed in 2014 out of a merger between CODA Automotive and Mullen Motor Cars. The company went public in 2021 and trades on the NASDAQ.

The EV industry has become extremely popular with investors over the last few years. Mullen’s move to become a public company was an attempt to take advantage of the hype, although it is yet to produce or sell any of its own vehicles.

Mullen is an extremely risky stock because it’s unproven. Research analysts have raised questions about its claims to have developed revolutionary battery technology. However, it is still a company that might appeal to investors looking to take a gamble, as long as you’re fully aware of the risks involved.

How has the company performed in recent years?

The stock price has plummeted since it went public at the end of 2021. It started trading at $11 a share in November and had fallen to less than $1 by February 2022. The collapse was based on scepticism over Mullen’s technology and whether it has any products of its own to sell.

Mullen recovered some of its early losses by announcing that it had developed its own batteries, and signed a deal to manufacture electric vans for a major Fortune 500 company. Those claims have been called into question but, if true, they would represent a huge breakthrough for the company.

While it is hard to verify the claims either way, it is true that Mullen is in a precarious financial state. The research company Hindenburg Research released a devastating critique of the business at the start of April 2022, which included the revelation that Mullen only had $360 on hand at the end of the previous year. It has only been able to survive by selling more and more stock to investors.

Is it a good time to buy Mullen Automotive shares now?

Our recommendation would be to buy at your own risk. The upside is that if Mullen’s has made a genuine technological breakthrough then the company is seriously undervalued. Cheap stocks like this can generate huge returns if you call the situation right. However, the downside is significant and your investment could be worth nothing if things go wrong.

After Hindenburg Research called out the company in April 2022, a group of investors sued Mullen, accusing it of violating securities laws. That case is ongoing, but highlights the risks of investing into such an uncertain climate.

If you do decide to invest, then it’s more important than ever to follow the news. You can do so using the links below. It might also be worth following Mullen’s fortunes on social media, as investors on Twitter, Reddit, and StockTwits can hype the stock up and move its price.

MULN stock price could crash to zero as bankruptcy risks rise
March 15, 2023
MULN stock upcoming reverse split could cause a short squeeze
February 14, 2023

Ways to invest in MULN

There are a few different ways to invest in Mullen, depending on whether you’re looking for a long or short term purchase. Each one is laid out below, alongside a short summary of why you might choose it.

  • Buy Mullen Automotive shares. Buying shares is the simplest way to invest. The company trades on the NASDAQ exchange, so it’s easy to buy shares through any good broker, and the price rises or falls based on the company’s performance.
  • Invest in Mullen Automotive ETFs. An ETF is a fund that invests in lots of different companies. Usually all the companies are from the same industry or sector, and you can buy shares in the ETF through a broker. A NASDAQ ETF, electric vehicle or EV ETF, or clean energy ETF, might include Mullen stock.
  • Invest in Mullen Automotive funds or trusts. A fund is like an ETF but managed by an investment professional. The fund manager decides what to invest in and tries to generate the best return for everyone who has contributed money to the fund.
  • Trade Mullen Automotive. Trading stocks is a short term approach based on studying a price chart to pick out trends. The patterns tell you when to buy or sell a stock and the idea is to make lots of trades over a short period of time to take advantage of small fluctuations.
  • Spread betting. Spread betting is similar to trading, except you bet on which way a price is going to move. You earn money based on the move multiplied by the value of your stake, and all spread betting profits are tax free.

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Sources & references
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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.