On March 17, Mullen Automotive Inc. (MULN) gained a huge 39.43% during the regular trading session. The stock saw an upsurge due to the company’s announcement of being featured by Yahoo Finance Live. Consequently, the stock plunged under corrections in the after-hours to shed its gains.
During the regular trading session, investors flocked towards the stock to make it trade at 759% of the average volume. The stock went up by $0.69 or 39.43% during the session while 514.82 million shares exchanged hands. At the closed of the session, MULN was trading at $2.44 per share. Following the huge gain, the stock lost 6.56% under corrections in the after-hours while shedding its gains. Hence, the stock was trading at $2.28 at an after-hours volume of 15.93 million shares on Thursday.
The electric car maker, Mullen Automotive Inc. has a market capitalization of $61.15 million. Currently, the company has 34.94 million shares outstanding in the market.
MULN stock has been on a rollercoaster ride for the past few weeks. In the past five days alone, the stock has increased by 128.04% while gaining 213.71% last month. These huge gains come from various good news from the company as well as market developments like shift and focus on EVs and the EV industry’s bullish outlook. Lately, the company has received some positive buzz due to multiple features and mentions. Ratings by Insider Monkey, feature by CarBuzz, and the latest by Yahoo Finance Live, are all contributors. Despite the latest gains and developments, the stock is still down by 53.35% year to date. Moreover, MULN subtracted a value of 80.34% last year.
Feature by Yahoo Finance Live
On Thursday, the company announced being featured by the world’s biggest business news platform, Yahoo Finance Live. Furthermore, Yahoo Finance is the number one finance website in the U.S. with almost 100 million unique monthly visitors.
The feature highlighted the company’s development of solid-state battery technology, its coverage on CarBuzz, and string performance in the market. The feature can be accessed here.
Highlighting the positive momentum towards the company, CEO and chairman David Michery also shed light on the company’s recent partnerships. These include partnerships with Hofer powertrain, Comau, ARRK, Dürr, DSA Systems, etc.
MULN’s Insider Monkey Ranking
It was only recently, on March 09, that the company was named as a top penny stock with huge growth potential for invest in. Insider Monkey, through its proprietary strategy, picks and identifies the best stocks.