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Mullen Automotive Plunges 8.48% on Earnings Report

Mover TrackerMonday, Apr 21, 2025 9:10 am ET

1min read

Mullen Automotive's stock price dropped 8.48% in pre-market trading on April 21, 2025, marking a significant decline for the electric vehicle manufacturer.

Mullen Automotive has faced challenges in recent years, with its stock performance being among the worst on the NASDAQ exchange. Despite this, the company has shown resilience, with its stock price up 30% year-to-date as of early 2025, outperforming Tesla's 15% rise. This suggests that as the electric vehicle transition accelerates, Mullen Automotive could continue to gain traction in the market.

In terms of financial performance, Mullen Automotive reported a loss of $66,133.00 per share for the quarter ending February 19, 2025, with revenue of $2.92 million. The company's negative return on equity and net margin indicate significant financial challenges, but recent insider buying and selling activities suggest confidence in the company's future prospects. Major shareholder Financial Lp Hrt purchased 5,467 shares at an average price of $8.00 per share, while Director Mary Winter sold 620 shares at an average price of $201.00.

Institutional investors have also shown interest in Mullen Automotive, with Virtu Financial LLC purchasing a new stake in the company's stock. This indicates that despite the company's financial struggles, there is still potential for growth and investment opportunities in the electric vehicle sector.

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