Mullen Automotive shares are trading higher on continued upward momentum after the company on Wednesday announced the retention of a law group to investigate possible naked short selling and also after the company today announced a $25 million stock buyback program.
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive has hired a law group to investigate potential naked short selling of its shares. This news has led to an increase in the company's stock price.
July 06, 2023 | 9:42 am
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Mullen Automotive's stock price has increased following the announcement of an investigation into potential naked short selling.
The announcement of an investigation into potential naked short selling has led to increased investor confidence in Mullen Automotive, resulting in a rise in the company's stock price. This suggests that investors believe the company is taking steps to protect its stock and shareholders.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100