24/7 Market News Snapshot 08 Aug 2024 – Mullen Automotive, Inc. Common Stock (NASDAQ: MULN)

August 8, 2024 9:25

Press Release

DENVER, Colo., 08 August, 2024 (247marketnews.com) – (Nasdaq:MULN) are discussed in this article.
Mullen Automotive, Inc. has experienced a notable upswing, with its stock price opening at $0.721 and currently trading around $0.870, demonstrating a substantial 21.02% increase from the previous session’s close of $0.722. The trading volume has surged to 9.5 million shares, highlighting robust investor interest and suggesting a continuation of bullish sentiments. Such significant movements may indicate a potential breakout, encouraging investors to monitor for confirming signals and volume trends amidst this volatility.

In tandem with this market momentum, Mullen Automotive has secured a significant purchase order for 180 electric vehicles (EVs), including 130 Class 1 EV cargo vans and 50 Class 3 EV trucks, from Eco. This substantial commitment, valued at approximately $7.7 million, underscores the confidence in Mullen’s advanced EV solutions and aligns with Eco’s goal of operational efficiency and environmental sustainability.

The deliveries of these cutting-edge electric vehicles are scheduled to begin in September 2024. This integration into Eco’s fleet operations marks a critical step in reducing carbon emissions and advancing sustainable transportation solutions. The Class 1 and Class 3 models highlight Mullen’s dedication to performance, reliability, and cost-effectiveness, promising a strong return on investment for Eco.

David Michery, CEO and Chairman of Mullen Automotive, emphasized the significance of this development, stating, “We are thrilled to collaborate with Eco in this transformative endeavor. Their substantial commitment to our EVs is a profound testament to the innovation and strategic vision at Mullen Automotive. We are confident that our partnership will lead to significant advancements in sustainable transportation.”

This pivotal order aligns with Mullen Automotive’s broader strategic goal of expanding its market presence and accelerating the global adoption of electric vehicles. As the industry moves towards sustainable practices, this collaboration with Eco is a significant stride towards a greener future.

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 Market News, Inc Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.