Moon gang, we got ta talk about mullen automotive because it had a bonkers day if you have no clue what i'm talking about. This will be a great video for you if you already happen to be in mullen or tracking the story. I just want to clear a couple things up and maybe provide a little bit more information of what's going on and a little bit of technical analysis for the levels that i will personally be watching. So with all that being said, let's get into it.

So just you know mullen m-u-l-l-e-n trades under the ticker symbol, m-u-l-n, it's an ev play it's a relatively smaller ev play, but that's not exactly the reason why we're seeing this craziness over the past? How many ever days, it's more so because there's some sus things going on! In the background now i had the fortunate pleasure the privilege to make a more full-fledged video about mullen and all the kind of sus stuff going on with true demon. It's already on the channel, it's called market manipulation, definitely a worthwhile listen, but what you need to know from a high level is the date is telling us that there's some things going on that, don't really add up so, for example, when you're on ssr. No one should be shorting, but market makers can actually still short based on their own volition of like hey, okay, like we think we need it they're their own regulators. Well, there was one day when mullen was on ssr short sale restriction and, all of a sudden, the numbers, the short exempt numbers, which are market makers shorting on that day, exceeded the entire free float right away.

That should be a jaw-dropping thing of like how does this add up? How does this logically make sense? So when you start digging into it, you're going to find more and more pieces of information that, like i said at the top level, definitely doesn't seem the most kosher. So, obviously, because of that, it took the attention of retail because they saw that with the fact that it had a high short interest and they're like hang on. Is there something? Maybe we could do here? Is there potentially a short squeeze of bruin in the situation? Well, with all that, i have to admit it's a storyline, i've been tracking, but i want to make it explicitly clear. I do not, and i will not - and i have not had an m-u-l-n position for me.

I just don't really like penny stocks and even though it's not a penny stock right now, it previously was - and i just don't - have the best luck with penny stocks. So i have no position. I don't plan on having a position and i haven't had a position, but i am tracking the story and i'm rooting for all of retail who hopefully is taking the shorts to the woodshed and that's exactly what happened today. Muln gained almost 40 percent in one day.

Over the past week, it's up 128 and over the past month, it's up 137 and obviously the golden question is is where is it gon na go and we got ta talk about a couple of things, but before we get into that and we like break down Like okay, some levels that i would personally be watching, i do want to bring up some interesting things previously. We have seen a much higher short interest on mulin, currently coming in at 2.8 percent, but not that long ago, march 8th, it came in at 29.. The reasoning for this is a little bit more of like a mathematical sleight of hand. Short interest is the amount of shares short divided either by the free float or outstanding shares, most likely.

The free float. That's the most common way to see it well. The number of shares short hasn't changed that much, but the number has plummeted so that x, divided by y equation. That y the amount of free float.

The shares in the free float recently went up dramatically and you can actually see that in this prospectus filing with mullen, basically, 228.5 million shares potentially added to the free float so uh worthwhile to check this out. But anyway, this prospectus relates solely to the resale and they're right here of up to 228.5 million shares of our common stock. 11.4 million went to the ceo david missouri, 35.6 million of the stock issuable conversion of our preferred stock 148 million uh associated with these warrants. 2.5 million associated with these notes and then the final 31 million associated with this equity line of credit now are all of these officially, and when i say all these, i refer to the 228 million.

Are they all in the outstanding share of free flow? Are they actively all in the market? No well like the warrants would have to be exercised. The notes would have to be exercised, so i would argue that some of these are currently in the market. Um obviously like the first group, just the 11.4, but also that's the ceo, so they might be locked up in a vesting schedule. So overall i just want to bring.

I guess a little bit more information to why you saw the short interest drop, but you didn't really see the cost. To borrow this is something that's a desirable short um in terms of like there's high demand, but the supply is not. There cost to borrow getting jacked up utilization. That shows the i guess how constrained supply really is and we're coming in at 99.34, so almost maxed out at 100.

Hence why we're seeing a high cost to borrow? And overall i get that this number's dropped, but like once again it's really because of the dilution, and i don't mean that in the sense that the shares are like getting fully added onto this amount like they theoretically could upon the execution of all the warrants, notes, Etc, etc, etc. But overall, it's because of this number that some of the data sources are saying: okay, theoretically, could go up to that and it just lowers the ratios. But it doesn't lower the magnitude of the shares on loan, which is going to have the impact on utilization and costs to borrow so overall, i just wanted to make that explicitly clear of what's going on with the data. What this company is why retail has been tracking it now for the golden question of where could this thing go? I mean obviously the sky's.

The limit recently i mean mullen has gone as high as what twenty dollars in the short term. What i'll personally be watching to the upside? It's just these levels of resistance, 275, three dollars, and then around 350. and on the downside i would just like to note: there is a downside gap fill to 178. So that would be a major support that i would personally be watching, but just to make it clear once again, i'm not a financial advisor.

I have no position in muln, but i am 100 supporting all the retail traders and investors that are currently kicking the ass of the shorts, who were once again wrong on this particular play and hopefully the ruckus, the sound that we make will get. Maybe some of these regulators to look into these types of situation, because it really makes no sense that you could possibly have the short exempt training volume higher than the free volume it just does not add up. And if you want more information on that, definitely check out the more in-depth video that i did with truedemon. But what i'm going to ask of you is, let me know your thoughts on muln in a comment below.

Are you in it? If you were in it, did you already take your profits? Are you riding it higher? What's your price target, i would love to know the retail training community's thoughts on muln at this moment in time. If you enjoyed this video, it would be awesome if you get to hit the like. It just helps me out with your algorithm and if you haven't already don't forget, to join up with the moonging by hitting that subscribe button. I appreciate your time i'll catch you in the next video have a beautiful day.

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