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Why Oct. 7 Is the Next Big Event for Mullen Stock
Why Oct. 7 Is the Next Big Event for Mullen Stock
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The Electric Last Mile (OTCMKTS:ELMSQ) bankruptcy auction on Oct. 7 is the next big event for Mullen Automotive (NASDAQ:MULN). The question is whether this event will create more positives or more negatives for MULN stock.
Mullen, a fledgling electric vehicle (or EV) maker, has placed a "stalking horse" bid for Electric Last Mile's assets, which include Electric Last Mile's manufacturing plant, its inventory, as well as its intellectual property.
On the surface, this deal may seem like something that could get MULN shares (down more than 95% in the past year) moving again in the right direction. After all, the company is looking to move into the production stage and out of the pre-revenue stage.
It does not appear likely that it's good news for shareholders if Mullen wins this auction. In fact, quite the opposite. Let's dive in, and see why this event could be a big negative for investors.
MULN Mullen Automotive $0.33MULN Stock and the Bankruptcy Auction
Recently, I went through the details of Mullen's bid for Electric Last Mile's assets. The company's bid consists of $55 million in cash, plus the assumption of $37 million in liabilities, for a total of $92 million in consideration.
So far, Mullen is the highest bidder. This could change, however, when the auction occurs in two days' time. As Bloomberg reported Sept. 19, 39 potential buyers solicited by the bankruptcy court went to the trouble of signing non-disclosure agreements to perform due diligence.
That's not to say a bidding war will break out at the auction, but it may suggest that Mullen Automotive could end up having to pay more for the assets. Still, even if the stalking horse bid prevails, and the company isn't required to pay a penny more for the assets, such a "victory" could be yet another crushing blow to MULN stock investors.
Dilution risks related to this company's poor capitalization have been a major reason why I've been bearish on this stock. Short on cash as it is, the fact management has aggressively pursued this deal suggests more dilutive capital raises are on the way, which is bad news for existing shareholders.
Mullen Shareholders are Likely to Keep Losing
You can blame many factors for the continued decline of MULN stock. The deflating of the "EV bubble," for one, as well as the falling appeal of growth stocks in light of higher interest rates and recession worries.
But along with these external factors, shareholder dilution has also played a massive role in sending MULN from as much as $15.89 per share late last year, to around 35 cents per share today. During this timeframe, the company has consistently sold more stock and convertible debt to meet its financial obligations. As a result, Mullen's share count has ballooned.
Last December, Mullen had around 23.4 million outstanding shares. Today, its share count now stands at around 509.3 million. Slicing the pie into nearly 22 times the amount of slices, it's not surprising the stock now trades at less than five percent of its 52-week high.
Worse yet, despite this dilution, Mullen remains strapped for cash. It needs to raise more money to finance this bid, as well as to keep its existing operations running. With this, you can expect a further issuance of stock/convertible debt. Mullen's share count will keep expanding, which will push the stock even lower.
The Best Move Now With MULN Stock
This stock may look cheap at current prices, but don't assume there's minimal downside from here. Between its current negative operating cash flow (around $18.3 million per quarter), its existing slate of merger deals (its deal for Bollinger Motors) and now a potential deal for Electric Last Mile, Mullen likely needs to raise cash far in excess of its current market cap (around $165 million).
Another 22-fold increase in its share count may not lie ahead, but the MULN share count could continue to multiply. This will reduce the stock's per-share value and limit upside potential in the event this upstart defies the odds and becomes an established name in the EV space.
If this EV maker wins the Electric Last Mile auction on Oct. 7, there will be even more reason to avoid MULN stock.
MULN stock earns a D rating in my Portfolio Grader.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
Louis Navellier, who has been called "one of the most important money managers of our time," has broken the silence in this shocking "tell all" video… exposing one of the most shocking events in our country's history… and the one move every American needs to make today.
The post Why Oct. 7 Is the Next Big Event for Mullen Stock appeared first on InvestorPlace.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
InvestorPlace-股票市场新闻、股票建议和交易提示
The Electric Last Mile (OTCMKTS:ELMSQ) bankruptcy auction on Oct. 7 is the next big event for Mullen Automotive (NASDAQ:MULN). The question is whether this event will create more positives or more negatives for MULN stock.
这个电力最后一英里(OTCMKTS:ELMSQ)10月7日的破产拍卖是马伦汽车公司(纳斯达克:穆伦)。问题是,这一事件是否会给穆恩股票带来更多积极因素,还是更多负面因素。
Mullen, a fledgling electric vehicle (or EV) maker, has placed a "stalking horse" bid for Electric Last Mile's assets, which include Electric Last Mile's manufacturing plant, its inventory, as well as its intellectual property.
马伦是一家羽翼未丰的电动汽车(EV)制造商,它对Electric Last Mile的资产提出了“跟踪”报价,这些资产包括Electric Last Mile的制造厂、库存以及知识产权。
On the surface, this deal may seem like something that could get MULN shares (down more than 95% in the past year) moving again in the right direction. After all, the company is looking to move into the production stage and out of the pre-revenue stage.
从表面上看,这笔交易可能会让穆恩的股价(过去一年下跌了95%以上)再次朝着正确的方向发展。毕竟,该公司正寻求进入生产阶段,并走出营收前阶段。
It does not appear likely that it's good news for shareholders if Mullen wins this auction. In fact, quite the opposite. Let's dive in, and see why this event could be a big negative for investors.
如果马伦赢得这次拍卖,对股东来说似乎不太可能是好消息。事实上,情况恰恰相反。让我们一头扎进去,看看为什么这一事件会对投资者造成巨大的负面影响。
MULN Stock and the Bankruptcy Auction
穆恩股票与破产拍卖
Recently, I went through the details of Mullen's bid for Electric Last Mile's assets. The company's bid consists of $55 million in cash, plus the assumption of $37 million in liabilities, for a total of $92 million in consideration.
最近,我仔细研究了马伦竞购Electric Last Mile资产的细节。该公司的出价包括5500万美元的现金,外加3700万美元的债务,总对价为9200万美元。
So far, Mullen is the highest bidder. This could change, however, when the auction occurs in two days' time. As Bloomberg reported Sept. 19, 39 potential buyers solicited by the bankruptcy court went to the trouble of signing non-disclosure agreements to perform due diligence.
到目前为止,马伦是出价最高的竞标者。然而,当拍卖在两天后举行时,这种情况可能会改变。AS布隆伯格9月9日报道破产法院征集的39名潜在买家不厌其烦地签署了保密协议,进行了尽职调查。
That's not to say a bidding war will break out at the auction, but it may suggest that Mullen Automotive could end up having to pay more for the assets. Still, even if the stalking horse bid prevails, and the company isn't required to pay a penny more for the assets, such a "victory" could be yet another crushing blow to MULN stock investors.
这并不是说竞标战将在拍卖中爆发,但这可能表明马伦汽车公司最终可能不得不为资产支付更高的价格。尽管如此,即使跟踪马竞购获胜,该公司也不需要为资产多支付一分钱,这样的“胜利”可能会对黑市股票投资者造成又一次毁灭性的打击。
Dilution risks related to this company's poor capitalization have been a major reason why I've been bearish on this stock. Short on cash as it is, the fact management has aggressively pursued this deal suggests more dilutive capital raises are on the way, which is bad news for existing shareholders.
与这家公司资本状况不佳相关的稀释风险一直是我看空这只股票的主要原因。尽管现金短缺,但管理层积极寻求这笔交易的事实表明,更多的稀释融资即将到来,这对现有股东来说是个坏消息。
Mullen Shareholders are Likely to Keep Losing
马伦的股东可能会继续亏损
You can blame many factors for the continued decline of MULN stock. The deflating of the "EV bubble," for one, as well as the falling appeal of growth stocks in light of higher interest rates and recession worries.
你可以将木棉库存的持续下降归咎于许多因素。例如,“电动汽车泡沫”的破裂,以及由于利率上升和对经济衰退的担忧,成长型股票的吸引力下降。
But along with these external factors, shareholder dilution has also played a massive role in sending MULN from as much as $15.89 per share late last year, to around 35 cents per share today. During this timeframe, the company has consistently sold more stock and convertible debt to meet its financial obligations. As a result, Mullen's share count has ballooned.
但除了这些外部因素,股东的稀释也起到了巨大的作用,将Muln从去年年底的每股15.89美元推高至今天的每股35美分左右。在此期间,该公司一直在出售更多的股票和可转换债券,以履行其财务义务。因此,马伦的股票数量激增。
Last December, Mullen had around 23.4 million outstanding shares. Today, its share count now stands at around 509.3 million. Slicing the pie into nearly 22 times the amount of slices, it's not surprising the stock now trades at less than five percent of its 52-week high.
Worse yet, despite this dilution, Mullen remains strapped for cash. It needs to raise more money to finance this bid, as well as to keep its existing operations running. With this, you can expect a further issuance of stock/convertible debt. Mullen's share count will keep expanding, which will push the stock even lower.
更糟糕的是,尽管股权被稀释,马伦仍然手头拮据。它需要筹集更多资金来为此次竞购提供资金,并保持现有业务的运营。有了这一点,你可以预计会有更多的股票/可转换债券发行。马伦的股票数量将继续扩大,这将进一步推低该公司的股价。
The Best Move Now With MULN Stock
MUN股票现在的最佳走势
This stock may look cheap at current prices, but don't assume there's minimal downside from here. Between its current negative operating cash flow (around $18.3 million per quarter), its existing slate of merger deals (its deal for Bollinger Motors) and now a potential deal for Electric Last Mile, Mullen likely needs to raise cash far in excess of its current market cap (around $165 million).
在目前的价格下,这只股票可能看起来很便宜,但不要认为从现在开始下跌的可能性很小。马伦目前的运营现金流为负(约为每季度1,830万美元),现有的一系列合并交易(收购Bollinger Motors),以及现在可能收购Electric Last Mile的交易,马伦可能需要筹集远远超过目前市值(约1.65亿美元)的现金。
Another 22-fold increase in its share count may not lie ahead, but the MULN share count could continue to multiply. This will reduce the stock's per-share value and limit upside potential in the event this upstart defies the odds and becomes an established name in the EV space.
其股票数量可能不会再增加22倍,但穆恩股票数量可能会继续成倍增加。这将降低该股的每股价值,并限制上涨潜力,如果这位upstart不畏艰险,成为电动汽车领域的知名品牌。
If this EV maker wins the Electric Last Mile auction on Oct. 7, there will be even more reason to avoid MULN stock.
如果这家电动汽车制造商在10月7日的电动最后一英里拍卖中获胜,那么就更有理由避免购买Muln股票。
MULN stock earns a D rating in my Portfolio Grader.
穆恩股票在我的股票中获得D评级投资组合评分器.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
在文章发表之日,Louis Navellier和主要负责本文的InvestorPlace Research工作人员都没有(直接或间接)持有本文提到的证券的任何头寸。
Louis Navellier, who has been called "one of the most important money managers of our time," has broken the silence in this shocking "tell all" video… exposing one of the most shocking events in our country's history… and the one move every American needs to make today.
路易·纳维利耶,被称为“我们这个时代最重要的基金经理之一”,在这段令人震惊的“告诉所有人”的视频…中打破了沉默揭露了我国历史上最令人震惊的事件之一…这也是今天每个美国人都需要采取的行动。
The post Why Oct. 7 Is the Next Big Event for Mullen Stock appeared first on InvestorPlace.
一篇为什么10月7日是马伦股票的下一个重大事件的帖子最先出现在InvestorPlace上。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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