Why Mullen Automotive Shares Are Gaining Thursday
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive, Inc. (NASDAQ:MULN) shares are experiencing an uptick in premarket trading on Thursday, following a significant drop of 21.9% in the previous session. The increase comes after the company announced a partnership with Pritchard EV to expand its U.S. dealer network, aiming to enhance its commercial EV lineup's reach across the country. This collaboration will allow Pritchard EV to offer Mullen's Commercial EV models, including the Mullen ONE and Mullen THREE, to customers nationwide. Additionally, Mullen highlighted the recent CARB certification for its 2025 Mullen THREE model, emphasizing the vehicle's readiness for delivery and the availability of incentives for electrifying commercial fleets.
May 02, 2024 | 9:50 am
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Mullen Automotive's stock is gaining momentum in premarket trading due to the announcement of its partnership with Pritchard EV to expand its U.S. dealer network and the recent CARB certification for its 2025 Mullen THREE model.
The positive reaction in Mullen Automotive's stock price can be attributed to the strategic partnership with Pritchard EV, which is expected to significantly enhance the company's commercial EV lineup's market reach. Additionally, the CARB certification for the 2025 Mullen THREE model underscores the company's commitment to meeting emissions standards and the readiness of its vehicles for delivery, potentially boosting investor confidence in the company's regulatory compliance and market potential.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100