MULN Stock Forecast: Mullen Automotive stumbles as EV startup stocks fall alongside Lucid
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UNLOCK OFFER- NASDAQ:MULN fell by 8.63% during Thursday’s trading session.
- EV stocks have a mixed session after Lucid earnings, Tesla stock split.
- Canoo could be on the verge of signing yet another partnership.
NASDAQ:MULN erased most of its gains from earlier in the week as the EV startup stock changed course during Thursday’s session. Shares of MULN tumbled by 8.63% and closed the trading day at $0.84. Stocks were unsettled on Thursday as investors awaited the key July jobs report which will be released on Friday morning. Employment figures have been a crucial statistic that the Federal Reserve has used to deny an economic recession. Overall, the Dow Jones fell by 85 basis points, the S&P 500 edged lower by 0.08%, and the NASDAQ eked out a 0.41% gain during the session.
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Electric vehicle stocks were mixed on the heels of another disappointing quarter from Lucid (NASDAQ:LCID). Shares of LCID were down by 9.73% on Thursday, while Rivian (NASDAQ:RIVN) and Canoo (NASDAQ:GOEV) were also trading lower in sympathy. Chinese EV makers extended their strong streak as Nio (NYSE:NIO) and XPeng (NYSE:XPEV) rose higher, along with Tesla (NASDAQ:TSLA) which is holding its annual shareholder meeting after the close. The main topic up for vote will be the proposed 3 for 1 stock split that was announced earlier this year.
Mullen stock price
Speaking of Canoo, there is a rumor circulating that it is working with BMW-owned Mini to provide the platform for its upcoming electric van. Canoo is already working with WalMart (NYSE:WMT) to provide electric delivery vans, as well as the US Army and NASA. Adding another automaker to its portfolio would certainly raise its legitimacy in the industry even more.
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- NASDAQ:MULN fell by 8.63% during Thursday’s trading session.
- EV stocks have a mixed session after Lucid earnings, Tesla stock split.
- Canoo could be on the verge of signing yet another partnership.
NASDAQ:MULN erased most of its gains from earlier in the week as the EV startup stock changed course during Thursday’s session. Shares of MULN tumbled by 8.63% and closed the trading day at $0.84. Stocks were unsettled on Thursday as investors awaited the key July jobs report which will be released on Friday morning. Employment figures have been a crucial statistic that the Federal Reserve has used to deny an economic recession. Overall, the Dow Jones fell by 85 basis points, the S&P 500 edged lower by 0.08%, and the NASDAQ eked out a 0.41% gain during the session.
Stay up to speed with hot stocks' news!
Electric vehicle stocks were mixed on the heels of another disappointing quarter from Lucid (NASDAQ:LCID). Shares of LCID were down by 9.73% on Thursday, while Rivian (NASDAQ:RIVN) and Canoo (NASDAQ:GOEV) were also trading lower in sympathy. Chinese EV makers extended their strong streak as Nio (NYSE:NIO) and XPeng (NYSE:XPEV) rose higher, along with Tesla (NASDAQ:TSLA) which is holding its annual shareholder meeting after the close. The main topic up for vote will be the proposed 3 for 1 stock split that was announced earlier this year.
Mullen stock price
Speaking of Canoo, there is a rumor circulating that it is working with BMW-owned Mini to provide the platform for its upcoming electric van. Canoo is already working with WalMart (NYSE:WMT) to provide electric delivery vans, as well as the US Army and NASA. Adding another automaker to its portfolio would certainly raise its legitimacy in the industry even more.
Like this article? Help us with some feedback by answering this survey:
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