Mullen Receives Favorable Decision From Nasdaq Hearings Panel; On Or Before Jan. 22, 2024, The Company Must Demonstrate Compliance With Listing Rule 5550(a)(2) And Listing Rule 5620(a)
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive Inc. (NASDAQ:MULN) has been granted a request to continue its listing on The Nasdaq Capital Market by the Nasdaq Hearings Panel. The company must demonstrate compliance with Listing Rule 5550(a)(2) by maintaining a closing bid price of $1 per share for 20 consecutive trading sessions on or before Jan. 22, 2024. Additionally, it must comply with Listing Rule 5620(a) by holding an annual shareholder meeting on or before March 8, 2024.
October 26, 2023 | 1:27 pm
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NEGATIVE IMPACT
Mullen Automotive's continued listing on Nasdaq is contingent on meeting certain conditions by specified deadlines. Failure to meet these conditions could result in delisting, which would likely negatively impact the stock price.
The news directly pertains to Mullen Automotive's listing status on Nasdaq. The company's ability to meet the conditions set by the Nasdaq Hearings Panel will directly influence its stock price. Failure to meet these conditions could lead to delisting, which would likely result in a decrease in the stock price due to reduced visibility and liquidity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100