- NASDAQ:MULN gained 7.8% during Friday’s trading session.
- EV Stocks pull back as market volatility and Tesla weakness continues.
- Hyundai announces its plans to launch a $5.5 billion EV plant in Georgia.
NASDAQ:MULN closed out another volatile trading week, although after rising on Friday, the stock managed to post a 6.8% gain for the week. Shares of MULN spiked by 7.8% and closed the trading session at $1.10. US markets could not decide on a direction during intraday trading before whipsawing higher into the closing bell. The Dow Jones managed to gain 8 basis points, while the S&P 500 closed 0.01% higher after briefly dropping into bear market territory earlier in the day. The NASDAQ posted a 0.30% as the downward pressure on tech stocks extended into Friday’s session.
Stay up to speed with hot stocks' news!
Electric vehicle stocks were mostly in decline on Friday as more weakness from the industry leader Tesla (NASDAQ:TSLA) sent the sector reeling. CEO Elon Musk was at the center of another controversy as allegations of sexual misconduct against a SpaceX employee surfaced online. Shares of TSLA closed 6.42% after hitting an intraday low price of $633.00. Other EV stocks that followed Tesla lower include Nio (NYSE:NIO), Lucid (NASDAQ:LCID), and Rivian (NASDAQ:RIVN) which all posted losses for the day.
MULN stock forecast
Korean automaking giant Hyundai officially announced its first electric vehicle production facility in the US. The project will cost $5.5 billion and will focus on electric vehicle and battery manufacturing. At its peak, Hyundai expects the factory to be capable of producing 300,000 vehicles annually after it opens for production in the first half of 2025. Hyundai chose Georgia as the location of the plant which is also where Rivian has set up its second factory.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

AUD/USD faces potential extra gains near term
AUD/USD faced renewed upward pressure following the US Dollar’s sell-off, successfully reclaiming the key 0.6300 mark and beyond, supported by persistent optimism in the risk complex.

EUR/USD now looks to challenge 1.0500
EUR/USD gained ground for the third consecutive day on Thursday, trading within close reach of the 1.0450 level, or three-week highs, driven by a strong selling bias in the Greenback.

Gold comfortable around $2,910
Gold prices now extend the recent breakout of the key $2,900 mark per ounce troy on the back of persistent weakness in the US Dollar and diminishing US yields across the curve.

Three reasons why PancakeSwap CAKE is rallying 96% in seven days
PancakeSwap’s native token CAKE extended gains by 8% on Thursday, inching closer to the $3 level. The DEX token hit several key milestones in the last 30 days, according to an official update shared on X.

Tariffs likely to impart a modest stagflationary hit to the economy this year
The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.