Why Mullen Automotive Shares Are Trading Higher Today
Portfolio Pulse from Shivani Kumaresan
Mullen Automotive (NASDAQ:MULN) announced an investor financing moratorium for the rest of 2023, stating it has sufficient capital for the next 12 months. The company's stock has declined over 95% since March 31, 2023, but is trading higher by 15% in premarket today.
June 21, 2023 | 1:04 pm
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POSITIVE IMPACT
Mullen Automotive announced a financing moratorium for 2023 and has sufficient capital for the next 12 months. The stock is trading higher by 15% in premarket.
The announcement of the financing moratorium and sufficient capital for the next 12 months is a positive signal for investors, indicating that the company is in a stable financial position. This news has led to a 15% increase in premarket trading, showing a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100