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

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

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped approximately 23% after a 1-for-100 reverse stock split aimed at maintaining Nasdaq listing compliance. The company also announced the production of the 100th Mullen THREE electric truck, with a total of 125 completed as of December 22, 2023. Mullen delivered 38 Class 3 Vehicles to Randy Marion Automotive Group, aligning with existing purchase orders. Speculation arises about a potential capital raise in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 6:08 pm

Mullen Automotive has announced a production milestone with the 100th Mullen Three, a Class 3 Cab Chassis Electric Truck, coming off the assembly line in Tunica, Mississippi. As of December 22, 2023, the company has completed 125 Mullen Three trucks.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 1:05 pm

U.S. stocks were up with the Dow, S&P 500, and Nasdaq posting gains. Nike (NKE) fell in after-hours despite beating earnings due to revenue miss. Marathon Digital (MARA) surged on mining expansion and crypto optimism. Mullen Automotive (MULN) soared after vehicle delivery news and CARB certification. Riot Platforms (RIOT) increased modestly with Bitcoin's rise. Tesla (TSLA) rose despite potential safety issues in Norway.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 2:05 am

Mullen Automotive's stock (MULN) is experiencing heightened volatility after the company executed a 1-for-100 reverse stock split. Additionally, Mullen announced the delivery of 38 Class 3 vehicles to Randy Marion Automotive Group, resulting in an invoice of $2.5 million to RMA.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 7:10 pm

Mullen Automotive's stock (MULN) has resumed trading after a temporary halt. The reason for the halt was not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 4:31 pm

Shares of Mullen Automotive were halted due to a circuit breaker after a rapid increase in price, with the stock surging 19.6%.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 4:26 pm

Paychex, Inc. reported Q2 FY24 sales of $1.26 billion, missing estimates by $0.01 billion, but beat EPS estimates by $0.01. The stock fell 5.4%. Other stocks also declined: ZJYL after a Nasdaq compliance notice, BB following Q3 results, and others due to various reasons. WBD's CEOs discussed a potential merger.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 4:02 pm

Mullen Automotive Inc (NASDAQ:MULN) delivered 38 additional Class 3 vehicles to Randy Marion Automotive Group, invoicing $2.5 million. Randy Marion has committed to ordering 1,000 vehicles for $63 million, with most deliveries expected in 2024. Mullen's CEO expressed confidence in meeting 2023 production volumes. Additionally, Mullen ONE received CARB certification, allowing sales in all 15 CARB states and D.C. Despite the news, MULN shares were down 6.37% at $7.49.

Portfolio Pulse from Adam Eckert

December 21, 2023 | 2:47 pm

Mullen Automotive, Inc. has delivered 38 Class 3 electric vehicles to Randy Marion Automotive Group, invoicing them for $2.5 million. This delivery is part of a larger order of 1,000 vehicles valued at $63 million, with the majority to be delivered in 2024. Mullen's Tunica, Mississippi facility plans to produce 150 vehicles in 2023 and has an annual capacity of 3,000 vehicles per shift. The Mullen THREE offers significant cargo capacity and maneuverability, with strong demand for the all-electric lineup. Mullen began deliveries to Randy Marion in September 2023, and Randy Marion received a license to retail Mullen's commercial EVs in November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:14 pm

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