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, Inc. (NASDAQ: MULN), an electric vehicle manufacturer, has filed for Foreign Trade Zone status in Tunica, Mississippi, aiming to improve cash flow by deferring taxes, fees, and import duties. The company anticipates a decision within 30 to 90 days and estimates a deferral of $10 million in capital outlays for FY 2024. FTZ status would also enhance global competitiveness and supply chain performance, with significant benefits for both domestic and international sales.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:04 pm

In Friday's intraday session, several consumer discretionary stocks experienced significant movements. Kidpik, Mullen Automotive, Fitell, RH, GEN Restaurant Gr, and Dogness saw their shares rise, with RH's increase attributed to its Q4 earnings report. Conversely, Selina Hospitality, SRIVARU Holding, Twin Vee PowerCats, NWTN, Dixie Gr, and MGO Global faced declines, with Twin Vee PowerCats' drop following its Q4 earnings.

Portfolio Pulse from Benzinga Insights

March 29, 2024 | 4:31 pm

Mullen Automotive's (NYSE:MULN) short interest has decreased by 27.64% since the last report, with 930 thousand shares sold short, representing 16.7% of its float. This decrease in short interest could indicate a more bullish sentiment towards MULN among traders. The company's short interest is higher than its peer group average of 10.18%, suggesting more skepticism towards MULN compared to its peers.

Portfolio Pulse from Benzinga Insights

March 29, 2024 | 2:00 pm

In Thursday's intraday session, 12 consumer discretionary stocks saw significant movements. Notable gainers included Kidpik, Mullen Automotive, RH, Fitell, U Power, and Birks Group, with increases ranging from 12.19% to 30.0%. On the losing end, SRIVARU Holding, Twin Vee PowerCats, Hour Loop, Bright Scholar Education, Selina Hospitality, and Jeffs Brands experienced declines between 8.87% and 15.1%. RH's rise followed their Q4 earnings release, as did the declines for Twin Vee PowerCats and Hour Loop.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:31 pm

Mullen Automotive has announced an update on the timeline for the U.S. government ruling regarding their Class 1 EV cargo vans. Following advice from the CBP, Mullen, in collaboration with RRDS, is moving forward with the GSA to finalize its qualification to sell these vans to all branches of the U.S. government.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:33 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose after announcing compliance with Nasdaq listing requirements and starting EV cargo van road testing. The company regained compliance with the annual shareholder meeting and minimum bid price requirements. Analysts use earnings growth, fundamental research, and technical analysis to predict MULN's stock trajectory. The 200-day moving average is $96.15, above the current price of $6.74, indicating potential bullish sentiment.

Portfolio Pulse from Erica Kollmann

March 07, 2024 | 3:29 pm

Mullen Automotive, Inc. has regained compliance with Nasdaq's listing requirements, ensuring its continued listing on the exchange. This development is significant for the company and its investors, as it reflects positively on Mullen's operational and financial adjustments aimed at meeting Nasdaq's standards.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 2:04 pm

Mullen Technologies has progressed its solid-state battery pack from lab testing to on-road vehicle testing in its Class 1 EV Cargo Van, achieving an 86% increase in vehicle range from 110 miles to 205 miles, surpassing the previously projected 73% increase.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:23 pm

Mullen Technologies announces it has commenced full commercial production of Class 1 and Class 3 electric vehicles (EVs), achieving positive gross margins on these classes. Bollinger Motors, part of Mullen, focuses on Class 4-6 EVs, with Class 4 production slated to begin in H2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 3:02 pm

Mullen Automotive has updated the timeline for the U.S. Customs and Border Protection (CBP) ruling on its Class 1 EV cargo vans. The CBP typically processes ruling requests on a first-in, first-out basis and decisions are usually made within 45 to 90 days, although this timeframe may extend based on the agency's caseload.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:31 pm

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