What's Going On With Mullen Automotive Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower despite expecting a significant revenue increase for the quarter ending September 30, 2024. The company has received $11.9 million from investors and has a $150 million investment commitment. Mullen aims to reduce its cash burn and achieve cash flow breakeven by December 2025. MULN stock has slumped over 99% in the past year.
October 02, 2024 | 4:05 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Mullen Automotive shares are trading lower despite a projected 6,791% revenue increase for Q3 2024. The company has received $11.9 million from investors and has a $150 million investment commitment. Mullen aims to reduce its cash burn and achieve cash flow breakeven by December 2025. MULN stock has slumped over 99% in the past year.
Despite the positive news of a significant revenue increase and investment commitments, the stock is trading lower, indicating investor concerns. The stock's 99% decline over the past year and current trading downtrend suggest a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100