MULN Stock Forecast: Mullen Automotive retreats during a mixed session for EV Stocks

NASDAQ:MULN fell by 8.75% during Thursday’s trading session.
Mullen issues another business update to shareholders.
EV stocks are mixed as Tesla falls while others rise higher.

Stocks Reporter FXStreet

NASDAQ:MULN snapped its recent winning streak even as the company continues to churn out positive updates for its shareholders. On Thursday, shares of MULN dropped lower by 8.75% and closed the trading session at $1.46. Stocks rebounded from Wednesday as all three major indices rallied higher into the close. As June comes to a close, investors are looking to the second half of the year for better results, as the first half was amongst the worst starts to a year in history. The Dow Jones added 194 basis points, the S&P 500 gained 0.95%, and the NASDAQ rose by 1.62% during the session.

Stay up to speed with hot stocks' news!

Mullen issued yet another business update to its shareholders, as the company outlined the recent advances it has made. Specifically, Mullen mentioned the addition of its stock to the Russell 2000 and 3000 indices, its results from the solid-state battery testing, and the launch of its Strikingly Different US tour to promote its FIVE crossover EV model. The company did not mention anything about the SPAC merger vote that was held on Thursday, so an official announcement about those results will likely be provided in the next week or so.

Mullen stock price

It was a fairly mixed session for EV stocks, although the late hour push managed to put most companies into the green for the day. Tesla (NASDAQ:TSLA) traded lower after comments from Elon Musk about the amount of money the new GigaFactories were burning through. In the green were stocks like Nio (NYSE:NIO), Lucid (NASDAQ:LCID), and Rivian (NASDAQ:RIVN). Lucid led the way with a 7.04% gain for the day.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

AUD/USD stays weak above 0.6900 after China’s trade data

AUD/USD struggles to capitalize on the previous day’s recovery and stays defensive on the 0.6900 level following the narrowing of trade surplus in China. Increased December Fed rate hike bets allows the US Dollar to pause its decline and weigh on the pair. US CPI data is next of note for the major.

USD/JPY retakes 158.00 on weak Japanese data; focus shifts to US CPI

USD/JPY attracts some dip-buyers and retakes 158.00 in the Asian session on Tuesday as a fall in Japan’s Household Spending offsets hawkish BoJ Summary of Opinions, undermining the Japanese Yen. Moreover, Fed hike bets support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.

Gold slides below $4,100 as Fed hike bets exert pressure ahead of US CPI

Gold extends its intraday descent and slides below the $4,100 mark, reversing a major part of the previous day's strong gains to the $4,150 resistance. Firming US Federal Reserve rate-hike expectations turn out to be a key factor driving flows away from the non-yielding bullion. Meanwhile, the US Dollar struggles to lure buyers amid mixed signals regarding the state of diplomatic talks between the US and Iran. This could offer some support to the commodity as traders seem hesitant ahead of US consumer inflation figures.

Pi Network rebounds from record lows, exits oversold territory as momentum improves

Pi Network (PI) shows a strong recovery on Tuesday, up over 7% after recording its all-time low of $0.0624 the previous day. PI token’s appeal in the derivatives market shows minor improvement, with Open Interest rising to $6.21 million.

US CPI data set to ease in October as markets reassess Fed rate hike expectations

The US Bureau of Labor Statistics will publish the October Consumer Price Index data on Tuesday, a release that could influence the US Dollar valuation as investors reassess the Federal Reserve’s interest-rate outlook. The report won’t include 12-month percentage changes for most CPI series in this release, due to missing October 2025 monthly data because of the lack of collection during the government shutdown from October 1, 2025, to November 12, 2025.

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.