Why Is Mullen Automotive (MULN) Stock Down 10% Again Today?

$Mullen Automotive(MULN.US)$ is feeling the heat again today as a short report from Hindenburg Research continues to drag the shares down.
Hindenburg Research released its report yesterday and gave $Mullen Automotive(MULN.US)$ one heck of a walloping. The report called the company “the latest in a long line of EV hustles,” while claiming its two current offerings are just rebranded electric vehicles (EVs) from China.
The Hindenburg Research report goes further in-depth on why the firm believes $Mullen Automotive(MULN.US)$ is a scam. That includes the poor state of its U.S. production facility, dubious battery testing claims, as well as Terren Peizer being its largest shareholder.
For the record, Peizer’s history as an investor should be enough to send up red flags, Hindenburg alleges. He has a habit of taking large stakes in stocks that see massive gains, only to crash and burn afterward. A few examples include $Top Ships(TOPS.US)$ , $MusclePharm(MSLP.US)$ , and MedClean, which has been delisted.
Investors interested in $Mullen Automotive(MULN.US)$ will definitely want to do their due diligence before taking a stake in the company. That includes reading through the Hindenburg Research report for themselves.

$Mullen Automotive(MULN.US)$ is down 12.6% as of Thursday afternoon and is down 60.1% since the start of the year.