Chief Accounting Officer Chester A. Bragado sells entire 2,738 share stake (100% of holdings) for $1,262,398.62 as stock plummets -99.9% from 52-week high
Chester A. Bragado, Chief Accounting Officer at Mullen Automotive, executed 2 separate sales totaling 2,738 shares for $1,262,398.62 on 2024-05-20, completely liquidating his shareholding and reducing his post-transaction holdings to zero shares. This total liquidation occurred amid severe stock deterioration: the company's stock is trading at -99.9% from its 52-week high, down -88.0% over 90 days, and down -51.7% over the preceding 30 days. The fundamental backdrop is deeply concerning—Mullen reported only $65,235.00 in latest quarterly revenue, a net loss of $-87,360,817.00, and has been unprofitable over its most recent full fiscal year. A complete elimination of insider holdings by a top accounting officer carries material weight, particularly when combined with such deteriorated financial metrics and stock price performance.