What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive (NASDAQ:MULN) shares are trading lower by 7.30% to $1.27 on Wednesday. The company announced that GAMA, its European distribution partner, has placed an order for 29 units of the Mullen GO, valued at $304,000, for delivery in August 2024. GAMA will distribute Mullen's commercial EVs in the Balkans region.
July 24, 2024 | 4:27 pm
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Mullen Automotive shares are down 7.30% following the announcement of a $304,000 order from GAMA for 29 Mullen GO units, scheduled for delivery in August 2024. GAMA will distribute Mullen's EVs in the Balkans.
Despite the positive news of a new order and partnership with GAMA, the stock is trading lower, likely due to broader market conditions or investor sentiment. The order's value and future delivery date may not be enough to offset the stock's recent performance issues.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100