What's Going On With EV Manufacturer Mullen Automotive Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive, Inc. (NASDAQ:MULN) shares have dropped over 35% in the past five days. Despite this, Bollinger Motors, part of Mullen, has received orders for 40 B4, Class 4 EV trucks, valued at approximately $6 million. The Bollinger B4 is an all-electric commercial truck expected to begin production in mid-2024 and may be eligible for federal incentives. Mullen delivered 35 vehicles in fiscal 2023 with a positive gross margin and invoiced $9.2 million to Randy Marion Automotive Group. MULN shares are currently down 11.6% to $7.94.

January 19, 2024 | 6:14 pm
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NEGATIVE IMPACT
Mullen Automotive's stock has declined over 35% in five days and is down 11.6% today, despite Bollinger Motors receiving $6 million in orders for its B4 EV trucks.
The recent decline in MULN's stock price suggests that the market is reacting negatively to the company's performance or prospects, despite the positive news of Bollinger Motors' orders. The short-term impact is likely negative due to the significant stock price drop, which may overshadow the positive order news. The importance is high as the orders represent a significant business development, but the stock's current trajectory suggests that investors may have concerns that outweigh this news. The confidence level is not at 100 because market dynamics can be unpredictable and external factors not mentioned in the article could influence the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100