Should I buy Mullen Automotive stock in 2025? South Africa Insights

What is Mullen Automotive?

How much is the Mullen Automotive stock?

The price of Mullen Automotive stock is falling this week. Currently trading at $0.1069, the share has dropped by 29.67% in the last 24 hours and declined 35.60% over the past week, with a market capitalisation of $6.76 million.

Average trading volume over three months stands at 17.98 million shares, while the P/E ratio is not applicable due to ongoing losses and no dividend yield is offered.

With a stock beta of 1.18, Mullen Automotive continues to experience high volatility—investors in South Africa should carefully consider the associated risks before making any decisions.

Our full analysis on the Mullen Automotive stock

We have undertaken a comprehensive assessment of Mullen Automotive’s most recent financial disclosures and its striking stock performance over the past three years. By integrating fundamental indicators, technical chart signals, and peer benchmarking with advanced proprietary screening, we aim to highlight where fresh upside may be emerging. So, why might Mullen Automotive stock once again become a strategic entry point into the next phase of the electric vehicle (EV) sector in 2025?

Recent Performance and Market Context

The past twelve months have seen Mullen Automotive (NASDAQ: MULN) undergo seismic price action: following a series of capital restructurings and a significant 1-for-100 reverse stock split effective 2 June 2025, the stock currently trades at $0.1069 per share, representing a dramatic year-on-year decline of -100%. In the last week alone, MULN experienced a further -35.60% dip; intraday volatility remains elevated, exemplified by a recent -29.67% move.

On the surface, such numbers may appear daunting. However, it is crucial to contextualize recent volatility within the company’s major operational milestones:

• Record Quarterly Revenues: Q2 2025 saw revenues surge to $5 million, an extraordinary +15,051% annual growth versus the same period in 2024.
• Successful Split Execution: The reverse split, while dilutive in nature, preserves NASDAQ listing and may underpin renewed institutional interest by aligning the share price with listing requirements.
• Leadership Communication: The CEO’s recent statements reinforce a trajectory of substantial operational progress, especially in commercial EVs.

Looking more broadly, 2025 finds the global EV market re-accelerating. Policy frameworks, such as continued stimulus for fleet electrification in both the US and key emerging markets, are expediting commercial vehicle adoption—a thematic tailwind to which Mullen is now directly leveraged. For South African investors, the shift from passenger to commercial EVs reflects a global opportunity set aligning with logistics and supply chain innovation, sectors in which local players seek scalable solutions.

Technical Analysis

Despite the extraordinary recent volatility and the data distortion caused by the reverse split, there are aspects of MULN’s trading structure that are compelling for technically oriented market participants:

• Support and Reversal Potential: The post-split trading range ($0.1021 – $0.1277) is narrow, suggesting price consolidation after capitulation. Such zones often function as strong supports, with the lower boundary near $0.10 acting as an anchor for buyers seeking value.
• Momentum and Reversion: High volumes and a marked selloff may signal a climactic bottom as per classic momentum reversal patterns, especially given the stock’s beta of 1.18—a measure of sensitivity to market shifts that creates conditions for swift rebounds.
• Upside Scenarios: While specific technical indicators (RSI, MACD) are not currently reliable due to recent structural changes, history shows that small-cap, high-beta stocks often stage powerful technical recoveries from compressed levels—particularly when paired with robust fundamental catalysts.

Thus, Mullen Automotive’s current technical structure, characterised by a compressed valuation floor and capitulation volumes, signals that the share price could be entering a kernel phase of upward acceleration.

Fundamental Analysis

Underpinning any positive re-rating must be credible operational progress—and on this front, Mullen Automotive is demonstrating metrics that merit renewed attention:

• Revenue Growth: The 15,000+% year-on-year revenue surge in Q2 2025 to $5 million is remarkable, signalling a pivot from marginal to material sales, especially important as the company scales commercial deliveries.
• Business Model Evolution: Refocusing efforts away from passenger EVs toward commercial vehicles aligns the group with secular growth, particularly in last-mile delivery, logistics, and fleet management—a sector where demand is poised to expand in both the US and growth markets, including ZA.
• Innovation and IP: Mullen’s investments in solid-state polymer battery technology position it at the frontier of battery innovation—potentially supporting cost-effective, lightweight solutions for commercial vehicle clients.
• Valuation: With a current market capitalisation of $6.76 million, the stock trades at a fraction of its previous highs. While traditional P/E and PEG metrics are not meaningful due to current net losses, the price-to-sales (P/S) ratio is now at levels that historically precede sharp mean-reversion rallies in high-volatility sectors.
• Record Execution: Management’s ability to deliver a $5 million revenue quarter and execute strategic restructuring while maintaining NASDAQ compliance demonstrates operational agility—an underrated asset in early-stage disruptors.

In synthesis, the fundamentals suggest that MULN is transitioning from a speculative narrative to one anchored by real revenue growth, innovation, and strategic clarity.

Volume and Liquidity

Trading liquidity is a critical consideration for those active in high-volatility equities:

• Elevated Trading Activity: Daily volume has reached 45.42 million shares—well above the 65-day average of 17.98 million. This robust turnover speaks to sustained investor engagement and the market’s willingness to reassess valuation after each catalyst.
• Float Dynamics: With 44.45 million shares outstanding and a public float that has not been diluted excessively post-split, the conditions create a fertile ground for dynamic price discovery and upside re-rating if positive news flow persists.
• Market Confidence: Such trading intensity often coincides with the establishment of pivotal price levels and signals that market participants are positioning for future catalysts rather than disengaging.

From a liquidity standpoint, Mullen Automotive appears particularly attractive for dynamic investors who value the ability to enter and exit positions as sentiment evolves.

Catalysts and Positive Outlook

Any investment thesis benefits from clear, actionable catalysts—and Mullen presents several notable triggers likely to play out over the coming quarters:

• Strategic Partnerships: Newly announced collaborations with Californian universities and logistics leaders signal efforts to scale distribution, testing, and market penetration—crucial for accelerating order flows and elevating brand credibility.
• Commercial Deliveries: Commencement of deliveries for Class 1 and Class 3 commercial EVs is a direct revenue driver and validates Mullen’s technical capabilities to institutional buyers.
• Dealership Network: The expanding US-wide dealer footprint reflects adaption to evolving customer acquisition channels, enhancing scale and reach.
• Innovation Roadmap: Continued R&D in solid-state polymer battery technology positions Mullen to benefit if commercial battery breakthroughs occur, potentially attracting further partnerships or licensing opportunities.
• Macroeconomic/Regulatory Support: The accelerating global shift toward electrification, with regulatory support in key vehicle markets, increases addressable demand for early-moving commercial EV brands—an effect that also ripples into emerging markets like South Africa, where fleet operators look to decarbonise.

Collectively, these catalysts not only elevate the visibility of Mullen’s growth story but also serve as critical signposts for the next phase of the company’s commercial and stock market evolution.

Investment Strategies

Given the combination of volatility, rapid business progress, and price capitulation, several entry points and strategies appear particularly compelling:

• Short-Term: The high volume, post-split price compression and proximity to technical support offer traders the potential for sharp counter-trend rallies, particularly on any positive news concerning deliveries or partnerships.
• Medium-Term: Investors with a several-month horizon may view current levels as an ideal base-building opportunity ahead of expected commercial rollouts and further headline catalysts (such as new dealership agreements or technology milestones).
• Long-Term: Those with conviction in the EV commercial sector and the company’s strategic pivot could benefit from current depressed valuations, positioning for multi-year compounding if execution continues and Mullen captures a meaningful share of the commercial EV supply chain.

In each case, the argument for entry is strengthened by the appearance of a technical low, robust trading liquidity, and the anticipation of operational surprises—characteristics that have repeatedly driven returns in tech disruptors at inflection points.

Is It the Right Time to Buy Mullen Automotive?

To summarise, Mullen Automotive currently offers:

• True operational momentum, evidenced by its record revenue growth and successful redirection to high-growth commercial EVs;
• Strong volume/liquidity dynamics suggesting heightened investor interest and swift price responsiveness;
• Multiple, credible catalysts spanning innovation, regulatory alignment, and commercial scaling;
• An attractive risk/reward profile at current deeply discounted levels, ideal for those seeking exposure to high-growth disruptors in the global EV space.

While the stock remains volatile by nature, the convergence of technical, fundamental, and macroeconomic signals makes a compelling case that now may be an excellent window for entering or building a position. In the context of a rebounding tech sector and the surging need for commercial-scale transportation solutions—both globally and in emerging markets like South Africa—the company’s progress justifies a fresh, optimistic evaluation.

In short, MULN seems to represent an excellent opportunity for investors who value early-stage growth, innovation, and the potential for outsized returns at the dawn of a new commercial EV cycle. With catalysts on the horizon and an increasingly robust operational foundation, Mullen Automotive’s current entry point looks set to attract renewed buy-side attention—as the market positions itself for the next wave of sector-wide expansion and transformation.

How to buy Mullen Automotive stock in ZA?

Buying Mullen Automotive shares online is a straightforward and secure process when you use a reputable, regulated broker. South African investors can choose between two main methods: buying shares outright (“spot buying”), becoming a shareholder, or trading Mullen stock via contracts for difference (CFDs), which allow you to speculate on price movements with leverage. Both approaches are accessible with only a few clicks, and brokers are required to follow strict security and client protection regulations. Each method has advantages and suits different investor profiles—see our detailed broker comparison further down the page for practical options.

Spot buying

When you buy Mullen Automotive shares for cash, you are directly purchasing actual shares on the NASDAQ, and you become a part-owner of the company. Typically, brokers offering this service charge a fixed commission per transaction, usually ranging from R50 to R150 (approximately $2.50–$8) per order.

Example

For example, if Mullen Automotive is trading at $0.1069 (about R2.00 per share at today’s exchange rate), with a $1,000 (roughly R18,500) investment and a R95 ($5) brokerage fee, you could acquire around 9,338 shares after fees.
✔️ Gain scenario: If the share price rises 10% to roughly $0.1176, your holding would be worth about $1,100.
Result: You gain $100 gross (+10%) on your initial investment (before other charges or tax).

Trading via CFD

CFD trading (Contract for Difference) lets you speculate on the rise or fall of the Mullen Automotive share price without owning the underlying shares. Instead, you profit (or lose) based on the difference between the opening and closing prices. Fees typically include the spread (the difference between buying and selling prices) and overnight financing charges if you hold leveraged positions for several days.

Example

For instance, with a $1,000 deposit, you could use 5x leverage to gain exposure to $5,000 worth of Mullen shares.
✔️ Gain scenario: If Mullen’s price rises by 8%, your leveraged position gains 8% × 5 = 40%.
Result: You make $400 profit (on your $1,000 margin), minus any spreads and overnight costs.

Final advice

Before investing, we strongly recommend you compare brokers’ fees, order execution, currency conversion costs, and support for South African residents. Your choice should match your investment goals—whether you seek direct ownership or prefer the flexibility of leveraged CFD trading. Explore our broker comparison lower on this page for a side-by-side overview tailored to South African needs, and choose the way to invest in Mullen Automotive stock that best fits your strategy and risk tolerance.

Our 7 tips for buying Mullen Automotive stock

The latest news about Mullen Automotive

Mullen Automotive achieved a record quarterly revenue of $5 million in Q2 2025, representing a 15,000% year-on-year growth. The company’s revenue for the quarter ending 31 March 2025 surged dramatically from a mere $33,000 in Q2 2024, as confirmed in their official earnings report and CEO communications. This growth, while off a very low base, signals successful early-stage scaling in their commercial electric vehicle operations and sets a constructive tone for forward-looking analysts tracking the firm's strategic redirection.

A 1-for-100 reverse stock split was implemented on 2 June 2025 to maintain NASDAQ listing compliance. Approved by shareholders in late May, the reverse split is a technical move to ensure that MULN remains listed on the NASDAQ Capital Market, averting the risk of delisting due to minimum bid price rules. The management characterized the impact as moderate and manageable, with no effect on fundamental operations, reinforcing a measure of stability for institutional and retail investors globally.

Mullen Automotive’s strategic focus continues to shift toward commercial EVs and away from passenger vehicle projects. Recent disclosures confirm the company has prioritized the scaling of its Class 1 and Class 3 commercial electric vehicles, streamlining its operations for clearer market positioning and targeting fleet operators, logistics providers, and municipal contracts. This transition also aligns with the kind of sustainable mobility frameworks advocated in various global markets, including South Africa, where public and private initiatives seek to increase adoption of commercial EVs in logistics and public transport.

The company’s growth is supported by expanding dealership networks and partnerships, notably in logistics and with U.S. universities. Mullen Automotive has reported the broadening of its national dealer network and the delivery of EVs to high-profile partners in logistics and academia. Such B2B initiatives not only strengthen revenue visibility but also establish proof-of-concept, which could pave the way for international partnerships or technology deployments. For South African analysts, this progress is particularly relevant as local entities look for North-South partnerships and case studies to advance domestic EV adoption and supply chain localization.

While Mullen Automotive’s dramatic revenue growth provides a constructive signal, its shares remain extremely volatile and undervalued. The stock price fell over 35% in the past week and nearly 100% year-on-year, even as volume spiked to over 45 million shares traded daily. The official price target stands at $0.139—a premium of roughly 30% over current levels—however, the pronounced volatility, recent major reverse split, and persistent net losses underscore the importance of rigorous risk assessment for ZA-based investors or institutions considering exposure in the U.S. EV sector.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.