What's Going On With Mullen Automotive Shares Friday?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive (NASDAQ:MULN) shares are trading lower on Friday after the company introduced a new lease program for its Mullen ONE EV cargo van. The BizEV program targets well-qualified individuals, small businesses, and fleets, offering a 3-year lease option starting at $475 per month. Despite the new program, MULN shares are down 5.94% to $0.95.
August 02, 2024 | 4:36 pm
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Mullen Automotive shares are trading lower by 5.94% to $0.95 after the company introduced a new lease program for its Mullen ONE EV cargo van. The BizEV program aims to make commercial EV ownership more accessible for small businesses and fleets.
Despite the positive introduction of the BizEV lease program, the market reaction has been negative, with shares dropping by 5.94%. This suggests that investors may have concerns about the program's impact on the company's financials or its ability to drive immediate revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100