What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive (NASDAQ:MULN) shares are trading lower despite the approval of its all-electric Class 1 cargo van, the 2024 Mullen ONE, for a $3,500 cash voucher under Massachusetts' MOR-EV program. This approval, combined with a federal tax credit, significantly reduces the effective cost of the van. The news highlights Mullen's commitment to making its commercial EVs more affordable and accessible.
July 17, 2024 | 4:35 pm
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Mullen Automotive's shares are trading lower despite the approval of its 2024 Mullen ONE EV cargo van for a $3,500 cash voucher under Massachusetts' MOR-EV program. This approval, along with a federal tax credit, reduces the van's effective cost, making it more affordable for businesses.
Despite the positive news of the MOR-EV program approval and the significant cost reduction for the 2024 Mullen ONE EV cargo van, Mullen Automotive's stock is trading lower. This suggests that other market factors or investor sentiment may be influencing the stock price more heavily in the short term.
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