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

1.73

Mkt cap

10M

Volume

1.3M

High

1.84

P/E Ratio

N/A

52-wk high

2400.00

Low

1.71

Div yield

N/A

52-wk low

1.71

Mullen Automotive has completed Phase One of its battery pack assembly line at its high energy facility, marking a significant step forward in its electric vehicle production capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:30 pm

Mullen has completed Phase 1 of its battery pack assembly line in a new high energy facility, aiming to produce next-generation, American-made EV battery packs with a capacity of 1 GWh per year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:27 pm

Mullen Automotive, Inc. has announced the production of its 500th commercial vehicle, marking a significant milestone for the company. This achievement highlights Mullen's growing capabilities in the electric vehicle (EV) sector and its commitment to expanding its presence in the commercial EV market.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:26 pm

Canoo Inc. (NASDAQ:MULN) shares surged over 24% in the past five days following a Buy rating and $5 price target from Benchmark analyst Michael Legg. Legg cited Canoo's $750 million in contracted orders with notable clients like Walmart Inc., the USPS, and the U.S. military as underappreciated opportunities. The stock has attracted both retail investors and short-sellers, with 19.94% of shares sold short. Despite a yearly decline of 82.69%, the stock has gained 5.78% over the past month.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 7:45 pm

In Wednesday's intraday session, 12 consumer discretionary stocks saw significant movements. Notably, Massimo (MAMO) surged 19.4% after announcing Q4 earnings, while Zapp Electric Vehicles (ZAPP) plummeted 35.7%. Other gainers include Kidpik (PIK), Children's Place (PLCE), EZGO Technologies (EZGO), WW International (WW), and ATA Creativity Glb (AACG). Losers comprised Kaival Brands Innovations (KAVL), VinFast Auto (VFS), Mullen Automotive (MULN), Fossil Group's Senior Notes (FOSLL), and Educational Development (EDUC).

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 4:31 pm

INVO BioScience, Inc. (NASDAQ:INVO) shares surged after reporting a 396.15% increase in quarterly sales to $1.38 million and remaining on track for profitability in 2024. The company also plans to acquire NAYA Biosciences in an all-stock transaction, aiming to transform into a healthcare services company. INVO's stock is trading above its 200-day moving average, indicating bullish sentiment among investors.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 3:59 pm

EV stocks, including LCID, MULN, NIO, and PSNY, are trading lower due to overall market weakness, Middle East tensions, rising yields, and potential layoffs at Tesla affecting the sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:47 pm

In Monday's intraday session, 12 consumer discretionary stocks showed significant movement. Kaival Brands Innovations and Snap One Holdings were among the top gainers, with shares rising 206% and 30.34% respectively. On the losing end, J-Long Group and Cazoo Gr experienced declines of 23.1% and 16.88%. Notably, Kidpik and Rent the Runway released their Q4 earnings three days ago, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 4:31 pm

Mullen Automotive, Inc. (MULN) announces significant cost reduction and consolidation measures expected to save approximately $170 million over the next 12 months. The company is focusing on the commercial EV segment, aiming to sell 100 units in April, as part of its strategy to align with current market conditions and drive near-term revenue. These actions include prioritizing commercial programs, integrating engineering centers, and expanding the dealer network, aiming for long-term growth and improved financial results.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:43 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped after announcing its application for Foreign Trade Zone status, aiming to reduce cash flow pressure by deferring import duty payments. The application could result in $10 million deferred capital outlays for FY2024. MULN's stock is trading below its 50-day moving average, with a significant short interest.

Portfolio Pulse from Erica Kollmann

April 01, 2024 | 3:05 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.