What's Going On With Mullen Automotive Stock?

Mullen Automotive, Inc. MULN shares are trading higher Tuesday, though the stock remains down by more than 35% over the last month. 

What To Know:

Mullen shares appear to be recovering after suffering a 15% loss over the past few days, despite positive news from the company last week. 

Last Thursday, Mullen Automotive announced that the Nasdaq Hearings Panel had granted Mullen's request to continue its listing on the Nasdaq Capital Market, subject to the following conditions:

• On or before Jan. 22, 2024, the Company must demonstrate compliance with Listing Rule 5550(a)(2), by maintaining a closing bid price of $1 per share for 20 consecutive trading sessions; 
• On or before March 8, 2024, the Company must demonstrate compliance with Listing Rule 5620(a) by holding an annual shareholder meeting.

Mullen Automotive shares have attracted attention from retail investors and short-sellers alike. MULN is currently one of the top trending tickers on Yahoo Finance, and according to data from Benzinga Pro, 16.39% of available MULN shares are being sold short. 

Related News: What's Going On With Spirit Airlines Stock? 

MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are up 15% at 29 cents at the time of publication.

Image: Daniel Reche from Pixabay