Mullen Automotive stock has gained 7% over the past five trading sessions.
stock has regained 7% over the past five trading sessions. Mullen stock is selling off in Friday’s premarket as the listing has been called into question. to re-earn its penny stock reputation. In September, Mullen CEO David Michery requested a hearing with the stock trade for such a low share price? Mullen has been diluting its stock since going public in late 2021. This is because the company as of yet currently has little revenue from operations and no profits. The stock has fallen over 99% since the company’s reverse merger in November 2021, and the rapid dilution is mostly to blame.
stock managed to overtake the 9-day Simple Moving Average momentarily before closing just beneath it. To kick this rally into high gear, bulls need to push