What's Going On With Mullen Automotive Stock?
Portfolio Pulse from Erica Kollmann
Mullen Automotive shares fell on Tuesday after a previous rise due to a $210 million purchase agreement with Volt Mobility for EV cargo vans and trucks. Despite the positive news, the stock is down over 70% in the past month.
August 27, 2024 | 4:19 pm
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Mullen Automotive's stock initially rose due to a $210 million deal with Volt Mobility but fell again, continuing a downward trend of over 70% in the past month.
The announcement of a $210 million purchase agreement initially boosted Mullen's stock by over 8%. However, the stock fell again on Tuesday, indicating that the market may have already priced in the news or is reacting to broader concerns about the company's performance, as evidenced by a 70% decline over the past month.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100