What happened to Mullen Five?
The company intended to field a luxury vehicle, the Mullen Five, then pivot to all-consumer electric vehicle models. Development of the Mullen Five was cancelled in 2024. The Mullen Five RS is an extremely high-performance electric SUV that’s designed and built in the United States; it’s expected to launch sometime in 2025. The all-wheel-drive Five RS has a two-speed transmission, and it’s targeting over 1000 horsepower, a 60-mph time under 2 seconds, and a 200-mph top speed.
Why did Mullen stock drop so much?
Why is MULN stock dropping? Mullen Automotive (MULN) has been facing a troubling downward trajectory in 2025, with its stock price plummeting over 90%. Once hailed as a potential leader in the electric vehicle (EV) space, Mullen’s stock has been battered by a series of operational and financial challenges. For retail investors, the Mullen story ended not with a bang, but with a delisting notice. By October 2025, MULN shares were worth fractions of a cent before the final reverse split, effectively wiping out most shareholder value.Mullen Automotive (NASDAQ:MULN) stock dropped on Thursday as it announced it would officially change its name to Bollinger Innovations, effective July 28, 2025. On the same day, the company’s common stock will begin trading on the Nasdaq Capital Market under the new ticker symbol BINI.
Does Mullen stock have a future?
Current Overview of Mullen (MULN) Stock The overall long-term outlook remains bearish due to persistent financial struggles and a lack of consistent growth in the electric vehicle market. Investors remain cautious as Mullen faces financial uncertainty, production challenges and market competition. As of 30 December, Wallet Investor expected Mullen Automotive’s stock to go down to $0. December 2023, and remain at that level until 2027. Panda Forecast predicted the stock to trade at minimum average of $23 in 2025.