- Mullen Automotive stock trades 10% lower on Tuesday.
- On Monday, Mullen announced the start of production for its Class 1 EV van.
- Effective November 2, the Mullen One received approval from the EPA for its Class 1 vehicle.
- MULN stock held above the 9-day SMA over the past several sessions for the first time since mid-September.
Mullen Automotive (MULN) stock broke below the 9-day Simple Moving Average (SMA) in Tuesday’s session, ending the day down 10% at $0.2769. The previous four sessions saw MULN close above that SMA for the first time in nearly two months, and now its short-term recovery narrative appears broken. A favorite retail electric vehicle (EV) stock, MULN has been in a short-term uptrend for the past two weeks as production of its two primary commercial vehicles has ramped up.
All three major indices closed up less than 1% higher on the day. The market awaits Rivian (RIVN) results in the post-market.
Mullen stock news: Mullen One now in full production after Certificate of Conformity
On Monday, Mullen announced that it had received the Certificate of Conformity from the US Environmental Protection Agency (EPA) for its Class 1 EV delivery van – the similarly named Mullen ONE. This gives Mullen the ability to begin shipping the vehicle to customers and distributors after full production began at the beginning of the month.
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Mullen Automotive FAQs
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Mullen Automotive stock forecast
Mullen stock attempted to hold onto the 9-day SMA on the daily chart on Tuesday but failed. The past few sessions have been the first time since mid-September that MULN stock has been able to hold above this moving average, and it was more bad news for the stock’s fanbase when it gave way.
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