Zacks Initiates Research on Net Element (NETE); Predicts $30 Per Share Target Price

  • Net Element’s reverse merger with EV manufacturer Mullen Technologies expected to close by 4Q2020
  • NETE expects to begin marketing Dragonfly K50, sold in conjunction with JV partner Qiantu Motors from 2Q2021
  • Company will also break ground in early 2021 on 1.5 million square foot facility to manufacture, assemble its own vehicles
  • Zacks forecasts that NETE could snag $30/share valuation by merger’s close

Net Element Inc. (NASDAQ: NETE), a financial technology company which has recently transformed its business model to become a pure-play electric vehicle (“EV”) manufacturer, was recently the subject of a company initiation report published by Zacks Small-Cap Research (https://ibn.fm/XGMRy). Following from Net Element’s decision to enter into a binding Letter of Intent to merge with privately-held Mullen Technologies Inc. in mid-June 2020, the company has sought to divest itself of its legacy payments-as-a-service transactional model and alter its operational focus towards the electric vehicle space. Now, having utilized Net Element’s EV manufacturing peer group’s average valuation of 10x EV/Sales as a comparable, Zacks Small-Cap Research has forecast that Net Element’s share price could be worth $30.00 once the Mullen reverse-merger is fully complete.

The completion of the triangular reverse merger between Net Element and Mullen Technologies is conditional on the combined entity receiving NASDAQ approval along with the completion of a $10 million capital raise, with Zacks anticipating the deal to…

Read More>>

NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
San Francisco, California
www.GreenCarStocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.

Latest News

China says US has 'weaponized' visas to target exchanges

Oct 27, 2020

BEIJING — China on Wednesday accused the U.S. of having "weaponized" the issuance of visas following the reported inability of a top Chinese space program official to obtain permission to travel to a key conference in Washington. Foreign Ministry spokeswoman Hua Chunying told reporters that the head of the Chinese delegation to the International Astronautical Congress wasn't able to obtain a visa following an Oct. 12 interview, making it difficult for Chinese representatives to attend important events at the meeting. Reports said the vice chairman of the China National Space Administration, Wu Yanhua, had planned to attend the congress. Hua...

Seoul police up security after rally at US envoy residence

Oct 27, 2020

SEOUL, South Korea — South Korean police said Saturday they beefed up security at the U.S. ambassador's residence in Seoul after a group of anti-American students used ladders to break into the compound. They were protesting demands by the Trump administration that South Korea pay more to help cover the costs of keeping U.S. troops in the country. Officials from three Seoul police stations didn't immediately say whether they will seek to formally arrest any of the 19 university students who were detained Friday afternoon at the residence of Ambassador Harry Harris. The Seoul Metropolitan Police agency said Saturday the...

Protests squeezing Hong Kong economy, tourism, leader says

Oct 27, 2020

HONG KONG — Hong Kong's economy is languishing after months of increasingly violent protests, the city's embattled leader Carrie Lam said Tuesday. Lam, addressing reporters after a long weekend of more turmoil, said tourism arrivals were down by half and that hotels and retailers were suffering. Hong Kong's third quarter economic data will definitely be "very bad", said Lam, the semi-autonomous territory's Beijing-backed chief executive said. Lam said she did not have the data with her. But empty streets and tourist attractions are evidence of the fallout from the protests that began in June over a now-shelved extradition bill that...

US priest who gave out gifts in Philippines accused of abuse

Oct 27, 2020

TALUSTUSAN, Philippines — The American priest's voice echoed over the phone line, his sharp Midwestern accent softened over the decades by a gentle Filipino lilt. On the other end, recording the call, was a young man battered by shame but anxious to get the priest to describe exactly what had happened in this little island village. "I should have known better than trying to just have a life," the priest said in the November 2018 call. "Happy days are gone. It's all over." But, the young man later told the Associated Press, those days were happy only for the priest....

In Japan, a court case highlights paternity leave issues

Oct 27, 2020

TOKYO — He sits in an office of a major Japanese sportswear maker but reports to no one. He is assigned odd tasks like translating into English the manual on company rules like policies on vacations and daily hours, though he has minimal foreign language skills. He was sidelined, he says, as retribution for taking paternity leaves after each of his two sons was born. Now he's the plaintiff in one of the first lawsuits in Japan over "pata-hara," or paternity harassment, as it is known here. The first hearing is scheduled for this week. His case is unusual in...