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) has achieved its 2023 delivery target for Class 3 electric vehicles by building 154 units and delivering 141 to Randy Marion Automotive Group, invoicing a total of $9,196,021. The remaining 13 vehicles are allocated for engineering and marketing. The Mullen THREE, a Class 3 EV truck, is designed for urban last-mile delivery with a 125-mile range and over 5,300 pounds of payload. Production takes place in Tunica, Mississippi, where Mullen also assembles the Class 1 EV cargo van, Mullen ONE.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 2:52 pm

In Tuesday's intraday session, several consumer discretionary stocks experienced significant movements. Polished.com (POL) led the gainers with a 45.7% increase, while Jeffs Brands (JFBR) saw the largest decline among the losers, falling 14.4%. Other notable movers included Dogness (DOGZ), PLBY Group (PLBY), and Rivian Automotive (RIVN). Market capitalizations varied, with Rivian Automotive and VinFast Auto (VFS) being the largest companies mentioned.

Portfolio Pulse from Benzinga Insights

January 02, 2024 | 5:31 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower despite the company announcing the delivery of 50 additional Class 1 EV cargo vans to Randy Marion Automotive Group, invoiced for $1.681 million. This follows a previous delivery of 50 vans for $1.680 million, totaling 100 vans delivered for $3.36 million. Mullen aims to deliver 285 Class 1 vehicles by January 8, 2024, and is ramping up production for 2024 demands. The company also completed the development of its solid-state polymer cell to pack integration for the vans and plans to begin road testing in early 2024. Additionally, Mullen announced a 1-for-100 reverse stock split effective December 21, 2023. MULN shares are down 8.05% to $13.14.

Portfolio Pulse from Nabaparna Bhattacharya

January 02, 2024 | 3:41 pm

Mullen Automotive, Inc. has delivered an additional 50 Class 1 EV cargo vans to Randy Marion Automotive Group, invoiced at $1,681,750. This brings the total number of vans delivered to 100, with an invoiced amount of $3,363,500. Mullen is on track to deliver 285 Class 1 vehicles by January 8, 2024. The Mullen ONE vans are produced in Mississippi and are designed for last-mile delivery with a 110-mile range and best-in-class features.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:25 pm

In Thursday's intraday session, several consumer discretionary stocks experienced significant movements. Nova Lifestyle (NVFY) saw a substantial increase of 145.8%, while Mullen Automotive (MULN) and Barnes & Noble Education (BNED) also posted notable gains. Conversely, Faraday Future (FFIE), Phoenix Motor (PEV), and U Power (UCAR) were among the stocks that declined. These movements reflect the volatility and rapid changes in the market values of these companies.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 5:31 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has seen its stock rise over 55% in the last five days, following several positive developments. The company announced the delivery of 63 Class 3 vehicles to Randy Marion Automotive Group, invoiced at $3.969 million, and the delivery of 50 all-electric Mullen One, Class 1 cargo vans, invoiced at $1.68 million. Mullen Automotive is on track to deliver 150 Mullen Threes by year-end and anticipates shipping 285 Mullen One cargo vans within the next five business days. Additionally, the company has completed the development of its solid-state polymer cell to pack integration for Mullen One Class 1 EV cargo vans, with pack level testing beginning on Dec. 28. A 1-for-100 reverse stock split was executed on Dec. 21.

Portfolio Pulse from Erica Kollmann

December 28, 2023 | 3:57 pm

Mullen Automotive, Inc. has delivered 50 Class 1 EV cargo vans to Randy Marion Automotive Group, invoicing them for $1,680,000. The company plans to deliver a total of 285 vans within the next five business days, contributing to over $6 million invoiced for such vehicles in the fiscal first quarter. These deliveries are part of a larger 6,000 vehicle order worth $200 million, with the majority to be delivered by the end of 2024. The Mullen ONE van is designed for last-mile delivery and is expected to be the first EV cargo van in the U.S. Class 1 commercial vehicle segment.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:00 pm

Mullen Automotive, Inc. (NASDAQ:MULN) delivered 63 additional Class 3 electric trucks to Randy Marion Automotive Group for $3.97 million, bringing the total delivered to 121 for $7.62 million. Mullen aims to deliver 150 Mullen THREEs by end of 2023, with Randy Marion committed to purchasing 1,000 vehicles for $63 million, mostly in 2024. Mullen also announced a 1-for-100 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. MULN shares dropped by 2.87% to $9.56.

Portfolio Pulse from Nabaparna Bhattacharya

December 26, 2023 | 4:21 pm

Mullen Automotive, Inc. has delivered 63 more Class 3 electric vehicles to Randy Marion Automotive Group, invoicing a total of $3,969,000. This brings the total delivered to 121 vehicles, valued at $7,623,000. Mullen is on track to deliver 150 vehicles by the end of 2023, as part of Randy Marion's 1,000 vehicle order worth $63 million. Production is based in Tunica, Mississippi, with a planned annual capacity of 3,000 vehicles per shift. The Mullen THREE, a Class 3 EV truck, is designed for urban last-mile delivery with a 125-mile range and a payload of over 5,300 pounds.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 2:01 pm

AAR Corp. (NYSE:AIR) shares dropped by 7% after reporting mixed Q2 results, with sales missing and EPS beating consensus. AAR also acquired Triumph Group Inc's (NYSE:TGI) Product Support business for $725 million. Other stocks experienced significant movements, with NextPlay Technologies, Inc. (NASDAQ:NXTP) and Jin Medical International Ltd. (NASDAQ:ZJYL) among the top gainers, while AlloVir, Inc. (NASDAQ:ALVR) and Jayud Global Logistics Limited (NASDAQ:JYD) were among the biggest losers. Notably, Karuna Therapeutics, Inc. (NASDAQ:KRTX) surged after an acquisition announcement by Bristol Myers Squibb & Co (NYSE:BMY), and NIKE, Inc. (NYSE:NKE) fell after mixed earnings and a cost savings plan announcement.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 6:28 pm

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