Mullen Automotive (MULN) Plunges 39.44% Amid Reverse Split Announcement

Mullen Automotive (MULN) experienced a significant drop of 39.44% today, marking its eighth consecutive day of decline. However, over the past eight days, the stock has surged by an impressive 1937.38%. The share price reached its highest level since March 2025, with an intraday gain of 7100.00%.

One of the most significant factors influencing the recent volatility in Mullen Automotive's stock price is the company's announcement of a 1-for-100 reverse stock split. This strategic move is set to take effect on April 11, 2025, and is designed to meet Nasdaq's minimum bid price requirement of $1.00. The reverse split will consolidate approximately 220 million shares into 2.2 million shares, which is expected to have a substantial impact on shareholder value and market perception. This decision aims to enhance the company's share price, ensuring compliance with Nasdaq's regulations and potentially renewing investor interest and confidence.