Mullen CEO Provides Further Update To Shareholders; Says Despite A Challenging Economic Environment Where Many Enterprises Are Capital Constrained, Our Balance Sheet Remains Strong And We Have Achieved Meaningful Strides Since Our Last Update On Aug 14
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive (NASDAQ:MULN) CEO David Michery has provided an update to shareholders, highlighting the company's strong balance sheet and progress despite a challenging economic environment. The company has received EPA certification for Class 3 EV commercial vehicles, engaged Donohoe Advisory Associates to represent its interests in a Nasdaq hearing, and taken a firm stance against manipulative trading in its stock. Mullen has also received $279 million in purchase orders for its EV Vans and Trucks, started a $25 million stock buyback program, and launched its in-house fleet telematics solution.
September 27, 2023 | 4:32 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Mullen Automotive has made significant strides in its operations, including receiving EPA certification, engaging in a Nasdaq hearing, and receiving substantial purchase orders. The company's stock buyback program also indicates confidence in its stock.
The company's recent achievements, including EPA certification and substantial purchase orders, indicate positive operational progress. The initiation of a stock buyback program also signals the company's confidence in its stock, which could potentially drive its price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100