Mullen Automotive Plunges 10% Amid Reverse Split Announcement

Mullen Automotive (MULN) experienced a significant decline, dropping 10.00% and marking its seventh consecutive day of losses, with a cumulative decrease of 66.36% over the past week. The share price hit a record low today, with an intraday gain of 0.00%.

Mullen Automotive Inc. recently announced a reverse stock split effective April 11, 2025. This move is often seen as an attempt by companies to boost their stock prices by reducing the number of shares outstanding. Such actions are commonly taken by struggling companies to meet stock exchange requirements or to improve investor perception. This announcement has likely contributed to the recent volatility in Mullen Automotive's stock price, as investors react to the company's efforts to stabilize its financial position.

Mullen Automotive has been listed as one of the top stock losers year-to-date, with a significant decline of 99.95%. This substantial drop indicates the company is facing considerable challenges, which have impacted investor sentiment and stock performance. The combination of the reverse stock split announcement and the company's overall poor performance has created a challenging environment for Mullen Automotive, affecting its stock price and investor confidence.