Is Mullen automotive (muln) a good stock to buy?

Mullen Automotive (NASDAQ: MULN) stock price continued its downtrend this year, making it one of the worst performers in the electric vehicle (EV) industry. MULN has tumbled by 83% this year as the S&P 500 and Nasdaq 100 indices have soared to their record highs.

Where is Mullen automotive located?

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet).

How much did Mullen automotive lose?

The most recent financial results showed that its net loss stood at over $235 million in the six months to March, an improvement from the $495 million it lost in the same period a year earlier. It also spent $120 million in this period. Mullen Automotive will likely continue generating substantial losses in the foreseeable future.