Mullen Automotive Confirms It Has Filed An Appeal To Nasdaq Staff Delisting Letter
Portfolio Pulse from Happy Mohamed
Mullen Automotive Inc. (NASDAQ:MULN), an electric vehicle manufacturer, has filed an appeal to the Nasdaq Listing Qualifications Panel to request a further extension of time and present its plan to regain compliance with Nasdaq Listing 5550(a)(2). The company failed to maintain a minimum bid price of $1.00, leading to non-compliance. The Panel has the discretion to grant the company up to an additional 180 days to regain compliance, but there is no guarantee of this.
September 07, 2023 | 3:37 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Mullen Automotive's appeal to Nasdaq could potentially buy the company more time to regain compliance. However, the uncertainty surrounding the outcome may impact the company's stock price in the short term.
Mullen Automotive's failure to maintain a minimum bid price of $1.00 has led to non-compliance with Nasdaq regulations. The company's appeal to the Nasdaq Listing Qualifications Panel could potentially buy it more time to regain compliance. However, the uncertainty surrounding the outcome of the appeal could lead to volatility in the company's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100