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

During Monday's intraday session, several consumer discretionary stocks experienced significant movement. RumbleON (RMBL), SRM Entertainment (SRM), Lovesac (LOVE), JX Luxventure (JXJT), Beachbody Co (BODY), and MYT Netherlands Parent (MYTE) saw their stocks rise, with increases ranging from 10.08% to 15.3%. On the other hand, SIGNA Sports United (SSU), EZGO Technologies (EZGO), VinFast Auto (VFS), Mullen Automotive (MULN), PARTS iD (ID), and Digital Brands Group (DBGI) saw their stocks fall, with decreases ranging from 8.97% to 22.3%.

Portfolio Pulse from Benzinga Insights

September 04, 2023 | 5:31 pm

During Friday's intraday session, several consumer discretionary stocks saw significant movement. Jiuzi Hldgs, JX Luxventure, Lovesac, RumbleON, Wah Fu Education Group, and Lixiang Education Hldg experienced gains, while VinFast Auto, Digital Brands Group, SIGNA Sports United, Polished.com, Mullen Automotive, and EZGO Technologies saw declines.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 5:31 pm

Mullen Automotive's CEO responded to Charles Payne's question on Fox Business, detailing the company's financials for Q2 2023. The company incurred $7.8 million of non-cash expenses, including charges for warrants provided to Qiantu and stock-based compensation. Mullen spent $46.1 million in operating expenses, compared to $53.9 million of total operating expenses reported. The company also highlighted its strong balance sheet with $352 million in stockholders' equity and $560 million in total assets. Mullen's operating cash flow was compared to competitors Canoo, Nikola, and Workhorse.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 1:32 pm

Mullen Automotive Inc. (NASDAQ:MULN) has announced an update on its stock buyback program, with an additional repurchase of 2 million shares of its common stock. The program, which started on Aug. 16, 2023, can continue through Dec. 31, 2023. So far, the company has repurchased $5,610,600 in shares, including the new purchases. The company's Board of Directors authorized the buyback program, which allows for the purchase of up to $25 million in shares until the end of 2023.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 7:05 pm

Mullen Automotive Inc. (NASDAQ:MULN) has filed a lawsuit against TD Ameritrade, Charles Schwab, National Finance Services and others, alleging that these broker dealers manipulated the share price of the company's securities. The lawsuit seeks compensatory damages and injunctive relief for violations of the Securities Exchange Act of 1934. Mullen's CEO, David Michery, expressed frustration over the performance of the company's stock and suspected illegal short selling activities.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 3:32 pm

Several stocks experienced significant movement in Monday's mid-day session. Notable gainers included Mobile Infrastructure Corporation (BEEP), GD Culture Group Limited (GDC), Hersha Hospitality Trust (HT), and Hawaiian Electric Industries, Inc. (HE). On the other hand, AgileThought, Inc. (AGIL), NovoCure Limited (NVCR), Faraday Future Intelligent Electric Inc. (FFIE), and Heliogen, Inc. (HLGN) were among the biggest losers.

Portfolio Pulse from Lisa Levin

August 28, 2023 | 5:52 pm

Mullen Automotive Inc (NASDAQ:MULN) has received a multiunit vehicle purchase order from NRTC Automation Group for three all-electric commercial Class 3 Mullen trucks, with deliveries expected to begin in Q4 2023. Mullen recently produced its first Mullen THREE at its Mississippi facility and plans to gradually ramp up production to 3,000 vehicles a year, with a potential increase to 6,000 vehicles per year. MULN shares are currently down by 13.45%.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 3:55 pm

Mullen Technologies has received a purchase order from NRTC Automation Group for three commercial Class 3 EV trucks. The deliveries are expected to begin in Q4 2023.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:31 pm

In Monday's pre-market session, 12 consumer discretionary stocks showed significant movement. Genius Gr, Interactive Strength, Selina Hospitality, VinFast Auto, Mister Car Wash, and Betterware de Mexico SAPI saw gains, while XWELL, China Liberal Education, EBET, Mullen Automotive, Nautilus, and REE Automotive experienced losses.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 1:06 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has started production of its Class 3 electric vehicles (EVs) and held a launch event at its Tunica facility. The company plans to gradually increase its production rate throughout the year, aiming for a capacity of 3,000 vehicles annually per shift. Mullen also plans to add a second shift for Class 3 production, doubling the capacity to 6,000 vehicles per year. The Mullen THREE, the company's Class 3 EV truck, has a starting price of $68,500 and qualifies for $7,500 in federal tax incentives.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 7:38 pm

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