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) announced a 1-for-9 reverse stock split and a stock buyback program for the repurchase of up to $25 million in shares. The company's CEO, David Michery, stated that the stock buyback program reflects confidence in their business. MULN shares are moving on above-average trading volume, with more than 120 million shares traded in the session.

Portfolio Pulse from Erica Kollmann

August 08, 2023 | 2:24 pm

Mullen Automotive (NASDAQ:MULN) has announced a 1 for 9 reverse split and plans to repurchase up to $25 million in shares through a stock buyback program after the filing of its 10-Q and upon expiration of its blackout period. The company believes it is undervalued and sees the buyback as a good use of capital.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 1:05 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower after its annual shareholders' meeting. A potential reverse stock split was among the proposals being voted on. The company had previously implemented a reverse stock split in May to regain compliance with the Nasdaq minimum $1 bid price requirement. The stock is trading nearly 10% lower at 12 cents.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 3:37 pm

Mullen Technologies, Inc. (MULN) has partnered with the Shoshoni Native American Tribe to pilot its commercial electric vehicles (EVs) at Harrah's Northern California Casino. This partnership aligns with the tribe's commitment to a greener future.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 12:11 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower after the company announced a commercial EV launch event to celebrate the completed production of the first Class 3 vehicles. The event will be held on Aug. 24 at Mullen's commercial assembly plant in Tunica, Mississippi.

Portfolio Pulse from Erica Kollmann

July 21, 2023 | 4:37 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has announced a commercial EV launch event on Aug. 24, 2023, to commemorate the first Class 3 vehicles rolling off the production line. The event will be held at Mullen's assembly plant in Tunica, Mississippi. The plant is focused on production of Class 1 and Class 3 commercial EV vehicles. The Mullen THREE, a Class 3 low cab forward EV truck, is one of the vehicles being produced.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 1:46 pm

Bollinger Motors has started the pilot build of its B4 all-electric Class 4 chassis cabs in partnership with Roush Industries. The first five completed cabs are expected to roll out this summer, with another 15+ vehicles by the end of Q3 2023. Bollinger Motors is majority owned by Mullen Automotive, Inc. (NASDAQ:MULN). The Bollinger B4 will be eligible for a federal purchasing incentive of 30% of the cost of the vehicle, up to a total $40,000, through the Inflation Reduction Act of 2022. Deliveries are expected to begin in July 2024.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 1:33 pm

Mullen Automotive Inc's shares are rising after the company received a 30-unit purchase order for the Mullen-GO Commercial Urban Delivery EV from Newgate Motor Group, valued at $321K. The transaction will be reflected in Mullen's current fiscal quarter reporting. Newgate and Mullen have plans for up to 500 vehicles per year. Last week, Mullen launched a new EV pilot program in upstate New York.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 5:13 pm

Mullen Automotive, Inc. (NASDAQ: MULN) has announced a 30-unit purchase order for the Mullen-GO Commercial Urban Delivery EV from Newgate Motor Group in Ireland. The initial order is valued at approximately $321K, with subsequent orders expected. This represents Mullen's first sale of vehicles for delivery outside of the U.S. and into the European market. The order is expected to be reflected in Mullen's current fiscal quarter reporting.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:17 pm

Mullen Technologies has announced the transfer of 350 Class 1 EV vehicles to its plant in Tunica, Mississippi, for final assembly. This move is part of the company's efforts to ramp up production.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:03 pm

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