What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive (NASDAQ:MULN) shares are trading lower by 7.84% after the company announced partnerships with Ziegler Truck Group and Range Truck Group to expand its reach in the commercial EV market. These partnerships aim to leverage the extensive dealership network and industry expertise of Ziegler and Range to deliver Mullen's electric cargo vans and trucks across the U.S.
May 15, 2024 | 4:09 pm
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Mullen Automotive shares fell by 7.84% following the announcement of new partnerships with Ziegler Truck Group and Range Truck Group. These partnerships are intended to expand Mullen's reach in the commercial EV market, focusing on the Pacific Northwest and upper Midwest regions.
Despite the positive news of new partnerships aimed at expanding market reach, the stock price of Mullen Automotive dropped by 7.84%. This could be due to market skepticism about the immediate financial impact or broader market conditions affecting investor sentiment.
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