Mullen Automotive is a U.S.-based electric vehicle (EV) company headquartered in Southern California. mullenusa.com+2news.mullenusa.com+2 The company has aimed to manufacture commercial EVs (e.g., vans, trucks) and has changed direction several times as market conditions and its business model evolved.
In mid-2025 the company announced a name change to Bollinger Innovations, Inc. and a planned stock ticker symbol change to “BINI”. Stock Titan+2news.mullenusa.com+2 This signals a strategic shift in brand and corporate identity.
Nevertheless, the company has faced serious financial headwinds: repeated reverse stock splits (described below), concern over its Nasdaq minimum bid price compliance, and declining share value. For example, a recent cost-cutting article noted the company’s stock had fallen nearly 100% year-to-date. MarketWatch.
As of the most recent data:
- Mullen Automotive Inc (MULN)
- $0.07
- +$0.02(+29.41%)Past month
- 1D5D1M6MYTD1Y5Ymax
- Open0.07
- Volume226.2M
- Day Low0.06
- Day High0.08
- Year Low0.03
- Year High2,208,000.00
The quoted price is around US$0.066 per share (though extremely low and potentially volatile) according to some sources. Stocktwits+1
Given the combination of full-throttle ambition in EVs and very high operational/financial risk, Mullen represents a high-risk / high-uncertainty speculative stock scenario.
2. Stock Symbol & Ticker
The company currently trades under the ticker MULN on the Nasdaq. Yahoo Finance+2Stock Titan+2
However, as noted above, the company plans to change its name to Bollinger Innovations and the ticker to BINI. TipRanks+1 Investors should monitor the corporate press for the effective date of the name/ticker change. Until that is finalized, MULN remains the symbol to watch.
3. Stock Price Prediction & Outlook
3.1 Price Prediction (General)
Given the very low current price, repeated dilution, reverse splits and listing-compliance risk, making a “precise” numerical prediction for Mullen is highly speculative and should be taken with caution. Many analysts would classify this as a “binary” outcome: either the company successfully executes its strategy (and the stock recovers) or it continues to struggle (and the stock remains depressed or is delisted).
3.2 Prediction for 2025
For the year 2025, here are possible scenarios:
- Optimistic scenario: The rebranding & commercial EV strategy gain traction, the company wins fleet contracts, stabilises cash flow, meets Nasdaq minimums and investor confidence returns. In that case, the stock might move higher from current levels, perhaps reaching the low-dollar range (e.g., US$1-5) depending on execution.
- Base scenario: The company makes incremental progress, but remains cash-strained and burdensome dilutive events continue. The stock could hover under US$1, remain highly volatile, or even face delisting risk.
- Pessimistic scenario: Execution fails, the company cannot meet listing rules, further reverse splits occur, and the stock value is further eroded. In that event, the stock could move significantly lower (sub-US$1) or transition to over-the-counter (OTC).
Given the history (see next section) the base/pessimistic scenario appears more plausible unless there is a clear turnaround.
3.3 Prediction for 2030
Looking ahead to 2030 is even more speculative. Key variables include: the broader EV market dynamics, commercial vehicle adoption, Mullen’s ability to scale and manage finances, and whether it survives as a listed company.
- If everything goes very well (company executes, grows revenue, becomes a solid commercial EV player), the stock might reach double-digit dollars (e.g., US$10-20 or more) depending on share count, margins, and investor sentiment.
- However, if the company fails to scale or is marginalised, the stock could remain very low, or be delisted and effectively worthless for many investors.
In summary: high upside (but high risk) for 2030; the more likely path may be stagnation or further decline unless execution is very strong.
4. Mullen Automotive News
Recent news items include:
- The company announced it will change its name to Bollinger Innovations, Inc. and move to ticker “BINI”. news.mullenusa.com+2Stock Titan+2
- It reached a settlement with GEM Group, transferring a manufacturing facility in Indiana to satisfy a court judgment. Stock Titan
- The company announced a 1-for-100 reverse stock split effective June 2, 2025. news.mullenusa.com+1
- There have been repeated reports of cost-cutting measures, workforce reduction, and depressed share value. MarketWatch+1
Overall the news environment is dominated by corporate survival/structural issues rather than strong growth milestones.
Recent Mullen Automotive and related news
5. Stock Split / Reverse Split History
One of the most striking aspects of Mullen is the high frequency of reverse splits. A reverse split consolidates shares (e.g., 100 old shares become 1 new share) and is often used to raise the share price for listing compliance, but it does not itself improve company fundamentals.
Key events:
- Effective February 18 2025: a 1-for-60 reverse split approved earlier. Nasdaq+1
- Effective April 11 2025: a 1-for-100 reverse split was announced to bring the stock into compliance with Nasdaq’s minimum bid price requirement. news.mullenusa.com+1
- The June 2 2025 1-for-100 reverse split mentioned above. NASDAQ Trader+1
- According to stock-split history aggregators, multiple splits (including in 2023 and 2024) have been recorded. Investing.com Canada
In short: the company has repeatedly used reverse splits, which typically signals financial distress rather than strong growth. Investors should view frequent reverse splits as a red flag.
6. What Happened to Mullen Automotive Stock?
Over the past few years the stock price of Mullen has collapsed from its earlier highs, compounded by dilution, reverse splits, weak financials and listing compliance risk. Articles note the stock has fallen “nearly 100% year-to-date” in some periods. MarketWatch+1
Some key drivers of the decline:
- The company repeatedly failed to maintain the minimum bid price on Nasdaq, triggering reverse splits. Clean Trucking+1
- Financial strain: losses, cash burn, need for financing and settlements (e.g., with GEM Group) have weighed heavily.
- Competitive pressures in the EV market: The EV space is crowded, capital-intensive, and execution-demanding.
- Investor sentiment: Given the high risk, many investors may avoid the stock, leading to very low valuations.
Thus, what happened can be summarised as: ambition + market opportunity but plagued by execution difficulties, capital/dilution issues, and listing‐compliance hurdles. It’s currently more of a speculative “turnaround story” (if it turns) rather than a stable growth investment.
7. Mullen Automotive Stock: Buy or Sell?
Whether the stock is a buy or sell depends heavily on your risk tolerance, time horizon, and belief in the company’s turnaround. Here are considerations:
Arguments for considering a purchase:
- If you believe Mullen (or Bollinger Innovations) can execute its commercial EV strategy and secure fleet contracts, the upside could be large relative to the low current price.
- The extremely low share price means the risk/reward ratio could appear attractive (though only if things go right).
- Name-change and rebranding signal a fresh strategic direction which could attract new investors if momentum picks up.
Arguments against buying:
- High risk of further dilution or reverse splits, which erode shareholder value.
- Very low probability, in my view, that the company becomes a market leader in EVs given capital intensity, competition and current weak position.
- The stock may be highly volatile and could lose almost all value if things go wrong (including delisting).
- For more conservative investors, there are many other EV or automotive companies with stronger fundamentals, cash flows and track record.
My view:
If I were to categorise: I would label Mullen as a speculative “high risk/higher reward” play. It is probably not suitable for most investors looking for stable growth or value. If you believe strongly in the strategy and are comfortable with the possibility of a near-total loss, then it might be considered a lottery ticket. If you’re more conservative, it may be best to avoid.
8. Summary & Key Takeaways
- Mullen Automotive (MULN) is a U.S. EV company shifting strategy, rebranding to Bollinger Innovations (BINI).
- The stock is currently extremely low (around US$0.066 in some quotes) and faces significant risks (dilution, reverse splits, listing compliance).
- The company has executed multiple reverse stock splits (1-for-60, 1-for-100, etc.) in 2024-2025.
- Near-term (2025) outlook: mixed – either a turnaround or continued struggle/delisting. Long-term (2030) depends on very strong execution.
- As a stock: high risk, potentially very high reward if things go right — but with a high chance of further decline or stagnation.
- Investors should monitor: contract wins in the commercial EV space, financial results (cash burn, debt, revenue growth), progress on listing compliance, and the actual effectiveness of the rebranding and business model.
Conclusion
Mullen Automotive’s journey reflects both the promise and peril of today’s fast-evolving electric vehicle market. Once seen as an ambitious EV innovator, the company now stands at a critical crossroads—fighting financial instability, multiple reverse stock splits, and a volatile investor climate. The upcoming rebranding to Bollinger Innovations (BINI) could mark a fresh start, but its success will depend on real execution, cost control, and the ability to deliver vehicles that meet market demand.
For investors, Mullen Automotive stock (MULN) remains a high-risk, speculative opportunity. While the potential upside exists if the turnaround succeeds, the company’s history of dilution, regulatory hurdles, and operational struggles cannot be ignored. The next few years—especially through 2025 and beyond—will determine whether Mullen becomes a true EV contender or a cautionary tale in the industry.
In short, Mullen’s story is not over—but investors should proceed with patience, caution, and a clear understanding of the risks involved.
