Is There Still Upside Ahead? MULN, TTOO, MCOM, BRQS
While identifying the right stock in itself is the most important thing with regard to successful investing there is another major factor that ought to be kept in mind. That is timing. Getting in at the right time is key. Here is a look at four stocks that recorded significant gains recently but investors need to figure out now if there is more upside.
Mullen Automotive Inc (NASDAQ:MULN) – It is based out of Southern California and as the name suggests, it is an automotive company. The company is involved in the development of next-generation electric vehicles at its two assembly line plants.
Mullen Automotive’s offerings of electric vehicles include Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors. The last one features Class 4-6 commercial offerings as well as SUV trucks. On July 6 the company had come into the news cycle after it announced that its board of directors had given its approval for a stock buyback program.
That led to a strong rally in the Mullen stock as it soared by 36% and took its gains for the past week to as much as 95%. Investors now need to watch the stock and figure out if the momentum in the Mullen stock could lead to further gains or not. As per the program instituted by the company, Mullen would pick up $25 million worth of its outstanding common stock up until December 31, 2023.
The stock could be purchased at different times from the open market or in private transactions depending on the prevalent market conditions. All those transactions would abide by the regulations laid down by the United States Securities and Exchange Commission. Mullen did add that the authorization of the program was not a guarantee that stock would be repurchased and in fact, it could even be canceled or amended by the board of directors at any point before December 31, 2023.
The chairman and Chief Executive Officer of the company David Michery noted that the program was initiated so as to deploy capital in an attractive opportunity and return some value to stockholders.
T2 Biosystems Inc (NASDAQ:TTOO) – The company has emerged as the cynosure of many investors’ eyes this week and that can be gauged from the price action in its stock. On Thursday, it continued to rally and ended up with gains of 19.50%. That took the gains clocked by the T2 Biosystems Inc stock to 27% for the week so far.
The company is a major player in the fast detection of pathogens that cause sepsis and antibiotic resistance genes space. On Thursday it announced that it had converted around 20% of its term loan it had with entities related to CRG Servicing LLC to T2 Biosystems common stock and Series B Convertible preferred stock. It was a significant development since the conversion helped in cutting down the principal amount of the term loan by as much as $10 million.
In exchange, the company provided 48345798 shares of its common stock and Series B Convertible Preferred Stock which could be converted into 93,297,259 common shares. The shares had been issued at the deemed price of $0.76 each, which was the closing price on June 30, 2023.
The Series B convertible shares could be converted into common stock once shareholder approval is granted. Following this transaction, CRG Servicing LLC became the holder of 19.99% of the outstanding common stock in the company. John Sperzel, the company’s Chief Executive Officer and Chairman noted that the transaction would help in strengthening the company’s balance sheet.
micromobility.com Inc (NASDAQ:MCOM) – The company is an innovative and disruptive leader in the micromobility sector and had been established in 2025 by Salvatore Palella. It seeks to bring about a revolution in urban transportation through a combination of shared services, vehicle rentals and retail.
The micromobility.com Inc stock was one of the notable movers on Thursday as it ended up with gains of 14% amidst heavy interest. While there was no news about the company yesterday, it made an announcement on June 29 about a strategic realignment of its business focus. That would entail the discontinuation of its media business unit.
As part of the rebranding program from micromobility.com Inc, the company canceled all its streaming contracts and would no longer stream the 2023-24 season of League Series B in Italy and globally. The move from micromobility.com Inc would help in creating cost savings to the tune of 14 million Euros and thereby boost the balance sheet substantially.
The company had invested heavily to create a disruptive streaming platform but its new strategic direction would be focussed on its core mobility business. As a consequence, micromobility.com Inc decided to streamline its business focus and reallocate the capital.
Borqs Technologies (NASDAQ:BRQS) – The company is a worldwide leader in the field of software and related products for the Internet of Thing space. Borqs Technologies is a provider of differentiated, scalable and customizable Android-based connected devices. It also offers cloud service solutions. The company has emerged as a leader in an innovation focussed end to end Internet of Things solutions provider.
Yesterday, the stock made a strong recovery and clocked gains of 9.7%. However, it is still down by 10% for the week so far. Could it continue to rally? The stock rallied yesterday after it emerged that Borqs Technologies and SkyCentrics unveiled the CTA-2045 ECOPORT communication products. The unveiling of the products was a major progressive step in the smart city solutions and solar energy systems spaces. The high tech products are going to be commercially available in the third fiscal quarter of 2023.
The products had been specifically developed to help with the rapid electrification of a range of industries. The ultimate aim of the production is to launch an era of sustainable development. The high-tech features make them a seemingly indispensable constituent for the integration of smart technologies and for renewable energy optimization.
