Shares of Mullen Automotive Inc.
dropped 3% toward a record low in premarket trading Thursday, after the electric vehicle maker received a delisting determination from the Nasdaq for failing to maintain the minimum stock bid requirement of $1. The company said that on Wednesday it requested a hearing before the Nasdaq Listing Qualifications Panel to request an extension, and to present its plan to regain compliance. If the company didn’t request a hearing, the stock would have been delisted on Sept. 15.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: