What's Going On With Mullen Automotive Stock?

Mullen Automotive, Inc. MULN shares are trading higher Tuesday. The stock has lost more than 50% of its value over the last month.

What To Know:

On Aug. 29, Mullen Automotive issued an update on the company's stock buyback program with an additional repurchase of 2,000,000 in shares of its common stock.

Mullen has repurchased a total of $5,610,600 in shares of its common stock since  announcing the buyback program on Aug. 17.

Shares of MULN are moving higher on above-average trading volume. According to data from Benzinga Pro, more than 51.3 million shares have already been traded in the session, compared to the stock 100-day average of 52.367.

Mullen Automotive's stock has grabbed the attention of short-sellers with 10.06% of available shares currently being sold short.

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MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are up 14% at 53 cents at the time of publication.

Image: Gerd Altmann from Pixabay