5 Popular Penny Stocks on Robinhood

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1. Mullen Automotive, Inc. (NASDAQ:MULN)

Stock Price as of June 10: $1.200

Number of Hedge Fund Holders: 4

Mullen Automotive, Inc. (NASDAQ:MULN) is a California-based electric vehicle manufacturing firm. The company is involved in the car dealership business through its subsidiary CarHub. Mullen Automotive, Inc. (NASDAQ:MULN) will be added to the Russel 2000 and 3000 Indexes from June 27. The company has an electric sports-utility vehicle that provides an estimated range of 325 miles and is also developing an interactive system called Persona to prevent vehicular theft.

Mullen Automotive, Inc. (NASDAQ:MULN) has already produced show cars for the FIVE variant and has bought a manufacturing facility outside of Tunica, Mississippi, where full-scale production will take place. The company intends to do a 19-city test-drive tour during the second half of the year. Mullen Automotive, Inc. (NASDAQ:MULN) is also trying to make space in the battery industry by introducing a battery with 600 miles of range. The company intends to use this battery in the second generation of FIVE, which will be rolled out in 2025 or 2026.

Mullen Automotive, Inc. (NASDAQ:MULN) was held by 4 hedge funds as of Q1 2022.

You can also take a peek at the 10 Mid-Cap Stocks Hedge Funds Are Talking About and 10 Best Roth IRA Stocks To Buy in 2022.

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