What's Going On With Mullen Automotive Stock?
Portfolio Pulse from Erica Kollmann
Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower after its annual shareholders' meeting. A potential reverse stock split was among the proposals being voted on. The company had previously implemented a reverse stock split in May to regain compliance with the Nasdaq minimum $1 bid price requirement. The stock is trading nearly 10% lower at 12 cents.
August 04, 2023 | 3:37 pm
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Mullen Automotive's stock is trading lower after its annual shareholders' meeting. A potential reverse stock split was among the proposals. The stock is down nearly 10% at 12 cents.
The news of a potential reverse stock split and the stock trading lower after the annual shareholders' meeting is directly impacting Mullen Automotive's stock price. The company had previously implemented a reverse stock split to regain compliance with the Nasdaq minimum $1 bid price requirement, which could be causing investor concern and leading to the lower stock price.
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