When it comes to investing, bad and good are (sometimes) fluid concept.

Buying Bitcoin when it peaked at $20,000 in 2017 was a bad investment through 2018 and 2019 and 2020. But what about today?

By that token, the investment I made in Mullen ($MULN) is a bad investment, and it'll probably remain a bad investment. And yet, it even though I literally lost everything on this investment, it wasn't my worst investment.

And it's not a big deal. I'll explain why in a second.

The point is, would you rather lose 50% of $100, or 100% of $10? That's right.

I invested in Mullen for all the wrong reasons. Hype, personal connection with one of the company's (former) PR people, and I liked the look of the car.

Mullen is a car brand. It's an EV brand. So far it has produced a car called Qiantu (pictured), which no one has seen on the road, and another one called the 'Five'.

All EV makers are probably a bit overvalued but there's a difference between Tesla and Rivian, they may be overvalued but they DO delivery units, and vapourware brands like Nikola and Mullen.

Mullen is overvalued, and their CEO is overpaid, despite the company losing cash hand over fist.

My $MULN stock is worth exactly $0. If you look at the chart, you'll see that Mullen stock peaked at over $3,000, which is insane, and I bought in at $680, which was also pretty dumb on my part.

And now it's worth cents. The good news I didn't lose much. Just a fraction of a share.

What can I say? You live and you learn.