Replies to post #65397 on Mullen Automotive Inc (MULN)

[TenKay]

“Why does it have to be either/or as opposed to both/and? Yes, shorting is legal but naked shorting is not; both have contributed to lowering the PPS to where multiple reverse/splits were needed to remain NASDAQ compliant“

Naked shorting is not illegal. Abusive naked shorting is.

Most, if not all, of the “naked shorting” of MULN was done by the financiers in advance of a dilutive issuance. That is not illegal and not “abusive”.

In fact, MULN’s Prospectus specifically allows it in the conversions/issuances and warns investors about it.

It was simply a way to get dilution into the market.

So the primary issue has only ever been dilution.

Besides, the changes in FTD’s (increases when they happened) were never significant enough relative to overall volume to be a meaningful component of the price drops.

[jarrod24007]

Since last 2022 $MULN's shares outstanding increased from 25 million to over 41 billion(Pre RS shares, divide by 225 to get todays conversion)...

This is INSANE! A factor over 1500x! (Or over 150,000%!)

This is the primary reason for the price decline, its so freaking obvious.... Michery is using the 'Naked shorts ' as an excuse to not only blame shift but keep ignorant retail buying under the guise that buying and holding somehow hurts the shorts .