What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Ryan Gustafson
Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher on Tuesday, rebounding by nearly 37% on unusually high volume. The company recently filed a preliminary proxy statement to the SEC for a reverse stock split to regain compliance with the Nasdaq minimum bid price listing rule. The company also provided an update on its lawsuit against TD Ameritrade, Charles Schwab, National Finance Services and others.
October 24, 2023 | 7:20 pm
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Mullen Automotive's stock is rebounding after recent struggles, including a potential reverse stock split and an ongoing lawsuit. The stock experienced a nearly 37% increase on high volume.
The stock is rebounding likely due to the announcement of a potential reverse stock split, which could help the company regain compliance with the Nasdaq minimum bid price listing rule. Additionally, the company provided an update on its ongoing lawsuit, which may have also influenced the stock's performance. The unusually high trading volume suggests increased investor interest.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100