- MULN stock loses another 7% on Tuesday, down 39% over past month.
- Mullen Automotive filed response with the Customs & Border Protection agency.
- Mullen ONE appears to be in the running for a federal contract alongside Rapid Response Defense Systems.
- Shareholders look ahead to vote on reverse split on December 15.
Mullen Automotive (MULN), a popular electric vehicle (EV) penny stock, gave up more than 7% on Tuesday, holding relatively flat after the first hour’s descent. Shares of the California-based company have trended 39% lower over the past month as the market awaits a shareholder vote on another reverse split scheduled for December 15.
The stock pulled back to $0.1648 in Tuesday’s session, down 7.2%, while the US stock market trades mixed. Only the Dow Jones produced gains.
Mullen stock news: Response for Mullen ONE filed with US Customs & Border Protection agency
On Monday, MULN stock closed slightly higher on news that it has filed a response alongside Rapid Response Defense Systems with US Customs & Border Protection (CBP), the federal agency that enforces law regarding customs duties, immigration and international trade.
The filing is a response to CBP’s questions regarding the sourcing of components used in the manufacture of Mullen’s Class 1 EV cargo van – the aptly-named Mullen ONE. The cargo van is manufactured at the company’s plant in Tunica, Mississippi, but uses parts sourced from distributors in South Korea, Germany, Romania, China, Canada and the US.
