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In a turbulent market environment, MULN (Mullen Automotive Inc. (NASDAQ:MULN)) stock has reached a 52-week low, trading at $2.07. According to InvestingPro analysis, the stock’s RSI indicates oversold territory, while the company’s overall Financial Health Score stands at a concerning WEAK level. This price level reflects significant pressure on the company’s valuation, as investors weigh various factors influencing the electric vehicle sector. The broader context of this decline is underscored by the staggering 1-year change data, which has seen its value plummet by -99.99%, with the company’s market capitalization now at just $2.27 million. MULN’s current position at a 52-week low may attract attention from bargain-seeking investors, but it also underscores the challenges the company faces in a competitive and rapidly evolving market landscape. For deeper insights into MULN’s valuation and 18 additional key ProTips, consider exploring InvestingPro.
In other recent news, Mullen Automotive Inc. disclosed a warning from Nasdaq regarding potential delisting due to its Market Value of Listed Securities falling below the required $35 million threshold for 30 consecutive business days. The company has until August 25, 2025, to regain compliance by maintaining a market value above the threshold for ten consecutive days. Mullen Automotive is actively exploring options to meet Nasdaq’s listing standards. Additionally, Mullen Automotive announced the deployment of its Mullen ONE EV vans to Orange County, North Carolina, as part of the county’s Climate Action (WA:ACT) Plan, aiming for an all-electric fleet by 2025. In another development, Mullen’s commercial EVs, the Mullen ONE and Mullen THREE, are now available for purchase through the Sourcewell contract, simplifying the procurement process for U.S. government agencies. Mullen Automotive has also partnered with EO Charging to provide comprehensive electrification solutions for Bollinger Motors’ fleet customers, enhancing support for electric commercial fleets. Furthermore, Mullen Automotive approved a reverse stock split during a Special Meeting of Stockholders, which could impact the stock’s market price and liquidity.
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