Mullen Automotive Soars 16.97% on Reverse Stock Split
1min read Mullen Automotive's stock surged by 16.97% in pre-market trading on April 14, 2025, marking a significant uptick in investor sentiment.
Mullen Automotive recently announced a 1-for-100 reverse stock split, scheduled to take effect on April 11, 2025. This move is aimed at addressing Nasdaq's listing requirements, specifically the $1.00 minimum bid price. The reverse split will consolidate approximately 220 million shares into just 2.2 million shares, effectively reducing the number of outstanding shares by a factor of 100. This strategic action is intended to enhance the company's share price and meet Nasdaq's compliance threshold, potentially renewing investor interest and confidence.
The reverse stock split is part of Mullen Automotive's broader strategy to comply with regulatory requirements and stabilize its market position. By consolidating shares, the company aims to create a more attractive investment proposition, which could lead to increased trading activity and a more stable share price. This move is seen as a proactive step to address the company's financial challenges and regain investor trust.
