Streetbeat News

MULN

Mullen Automotive, Inc.

Industry

Auto - Manufacturers

Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions. The company was founded in 2014 and is based in Brea, California.

Open

3.43

Mkt cap

22M

Volume

4.4M

High

3.43

P/E Ratio

N/A

52-wk high

2100.00

Low

2.50

Div yield

N/A

52-wk low

1.60

Mullen Automotive, Inc. (MULN) has secured a $150 million financing package, comprising a $100 million commitment from a family office and $50 million in senior secured convertible notes sold to family offices and high net worth investors. This funding will support Mullen and Bollinger Motors' operations and expansion of domestic and international commercial sales efforts for the next 13 months, including the production of the Bollinger Motors B4 vehicle.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:17 pm

Mullen Automotive's stock is trading higher following a significant capital infusion totaling $150 million, which includes a $100 million financing commitment from a family office.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:16 pm

Mullen Automotive Inc (NASDAQ:MULN) announced it has been granted Foreign Trade Zone status for its Mississippi manufacturing center by the U.S. Department of Commerce, offering significant financial benefits including duty deferments and exemptions. This approval is expected to enhance Mullen's competitive position by improving cash flow and reducing operational costs. The announcement follows a series of positive developments for Mullen, including a partnership with National Auto Fleet Group and a service agreement through its subsidiary Bollinger Motors, contributing to a 19% stock rally on Wednesday.

Portfolio Pulse from Adam Eckert

May 09, 2024 | 3:07 pm

Mullen Automotive, Inc. (MULN) has been granted Foreign Trade Zone status by the U.S. Department of Commerce for its facility in Tunica, Mississippi. This approval allows Mullen to defer payments on import duties, potentially deferring up to $21 million in outlays for FY2024 and FY2025, improving cash flow.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:36 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares surged over 50% in the past five days, attributed to the announcement of a new commercial dealer, National Auto Fleet Group, and a service agreement between its subsidiary Bollinger Motors and Amerit Fleet Solutions. The stock experienced heavy trading volume, with over 13.5 million shares traded, significantly above its 100-day average. The high short interest in MULN shares also contributed to the stock's volatility.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 4:57 pm

The article reports on significant movements in consumer discretionary stocks during Wednesday's intraday session, highlighting both gainers and losers based on their performance. Notably, companies like Cricut, Luminar Technologies, and Mullen Automotive saw substantial increases in their stock prices, largely attributed to their Q1 earnings reports. Conversely, stocks such as Cazoo Group, ODP, and National Vision Holdings experienced declines, with some attributing their performance to recent earnings reports.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 4:31 pm

Mullen Automotive's (NYSE:MULN) short interest has decreased by 3.31%, now representing 24.21% of its float with 1.35 million shares sold short. It would take about 2.47 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards MULN, potentially signaling increased bullishness among investors. MULN's short interest is significantly higher than its peer group average of 10.22%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 1:00 pm

Mullen Automotive, Inc. (NASDAQ: MULN) announces its subsidiary, Bollinger Motors, has partnered with Amerit Fleet Solutions to provide mobile service and maintenance for Bollinger's commercial EV fleet customers. The agreement covers EV service and warranty support for the Bollinger B4 and future vehicles in key states. Amerit will offer maintenance and repair services outside Bollinger's authorized dealer service areas, enhancing nationwide coverage and fleet efficiency. This partnership follows Bollinger Motors' recent strategic moves, including partnerships for battery supply and vehicle assembly, expansion of its dealer network, and qualification for federal clean vehicle tax credits.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 1:20 pm

Mullen Automotive, Inc (NASDAQ:MULN) shares surged after announcing a deal with National Auto Fleet Group to sell electric vehicles nationwide, including two all-electric commercial vehicles. The partnership aims to serve national fleet customers and offer Mullen's EVs to public fleets across the U.S. Additionally, Mullen adopted a stockholder rights plan to prevent significant ownership changes without board approval, effective until May 1, 2025.

Portfolio Pulse from Dylan Berman

May 06, 2024 | 5:03 pm

In Monday's intraday session, several consumer discretionary stocks experienced significant movements. Mullen Automotive (MULN) led the gainers with a 41.9% increase, while GameStop (GME) headed the losers with a 15.6% decline. Other notable movers included Workhorse Group (WKHS), Dogness (DOGZ), and Bowlero (BOWL), with movements attributed to market dynamics and specific company news such as Bowlero's Q3 earnings report.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 4:31 pm

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