What's Going On With Mullen Automotive Stock Today?

Mullen Automotive Inc MULN shares are volatile Thursday after its Bollinger Motors division secured an order for 80 all-electric Class 4 commercial trucks.

What To Know: Mullen announced Thursday that its subsidiary Bollinger Motors reached an agreement to sell 80 Bollinger B4 trucks to Momentum Groups for $13.2 million.

Momentum offers fleet management and EV charging solutions. The company is expected to take possession of the vehicles after Bollinger launches production in the second half of this year.

“Momentum is a leader and innovator in mobile charging solutions and has a shared commitment to using electric vehicles as part of a fleet management solution to help companies reduce emissions and save money,” said Robert Bollinger, founder and CEO of Bollinger Motors.

“We are excited that the Bollinger B4 will be the Class 4 platform that helps Momentum deliver a mobile-charging solution.”

Bollinger noted that it recently qualified for federal clean vehicle purchasing incentives under the Inflation Reduction Act, which provides $40,000 in refundable tax credits per truck.

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How To Buy MULN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Mullen's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

MULN Price Action: Mullen Automotive shares have pared earlier gains and were down 7.1% at $2.60 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Mullen Automotive.