Mullen Automotive Stock Falls Over 15% - What's Going On?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive, Inc. (NASDAQ:MULN) shares fell over 15% despite the company announcing CARB certification for its 2025 Mullen THREE electric truck and the completion of the first phase of battery line integration. The certification allows access to state EV incentives in CARB-compliant states, and the company targets starting production in early 2025, expecting to hire over 200 people.
April 25, 2024 | 5:02 pm
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Mullen Automotive's stock fell over 15% despite positive developments including CARB certification for its electric truck and progress in battery production.
The stock price drop could be attributed to market reactions to short-term challenges or broader market trends, overshadowing the positive regulatory and operational milestones achieved by the company.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100