Why is MULN stock down sharply?

The stock price of MULN has experienced a significant decrease from July 1 to July 27, 2025. The decline in MULN's stock price can be attributed to **Recent Capital Raise**.

Mullen recently filed for a $40 million capital raise, which could dilute existing shares and lead to a decrease in stock price.

|code|Ticker|Name|Date|Percentage Change|market_code|
|---|---|---|---|---|---|
|MULN|MULN.O|Mullen Automotive|20250623|-16.5414|186|
|MULN|MULN.O|Mullen Automotive|20250624|-9.009|186|
|MULN|MULN.O|Mullen Automotive|20250625|-10.8911|186|
|MULN|MULN.O|Mullen Automotive|20250626|-15.5556|186|
|MULN|MULN.O|Mullen Automotive|20250627|-21.7105|186|
|MULN|MULN.O|Mullen Automotive|20250630|-27.4454|186|
|MULN|MULN.O|Mullen Automotive|20250701|-28.862636089877228|186|