Mullen Automotive inventory touches 52-week low (NASDAQ:MULN)
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Mullen Automotive (NASDAQ:MULN) shares slumped about 13% on the intraday low, touching a brand new 52-week low of simply $0.13.
The drop for the penny inventory comes amid heavy buying and selling quantity, with over 200M shares altering arms, practically tripling the buying and selling quantity for Tesla on Wednesday. The inventory was additionally famous for uncommon choices exercise in this week’s catalyst watch.
Shares of Mullen have fallen over 90% prior to now yr, falling from a peak of $4.18 in March 2022 to only $0.13 on Wednesday. The corporate not too long ago obtained an 180-day extension to fulfill Nasdaq itemizing necessities.
