What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Adam Eckert
Mullen Automotive Inc (NASDAQ:MULN) shares are volatile after its Bollinger Motors division secured an order for 80 all-electric Class 4 commercial trucks worth $13.2 million. The trucks will be delivered to Momentum Groups, a fleet management and EV charging solutions provider, in the second half of the year. Bollinger Motors also qualified for federal clean vehicle purchasing incentives under the Inflation Reduction Act.
June 13, 2024 | 3:23 pm
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Mullen Automotive's Bollinger Motors division secured an order for 80 all-electric Class 4 commercial trucks worth $13.2 million. The trucks will be delivered to Momentum Groups in the second half of the year. Bollinger Motors also qualified for federal clean vehicle purchasing incentives.
The order for 80 electric trucks worth $13.2 million is a significant revenue boost for Mullen Automotive. Additionally, qualifying for federal clean vehicle purchasing incentives could further enhance profitability. Despite the positive news, the stock is currently down 7.1%, likely due to broader market volatility or profit-taking.
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IMPORTANCE 80
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