MULN Stock News: Mullen Automotive posts a 7.8% gain even as EV Stocks retreat

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.

Stocks Reporter FXStreet

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:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD eases modestly following the release of US data

EUR/USD is showing little reaction to the latest US releases. The pair is still stuck to familiar levels around 1.1650 following the release of upbeat US Retail Sales, up 0.6% in November. Inflation at wholesale levels in the country rose in November, according to the latest Producer Price Index release.

GBP/USD eases from tops, back to 1.3440

GBP/USD trades on a positive note on Wednesday, receding from earlier highs around 1.3460, now hovering in the 1.3440 region. US data failed to make an impression with the Greenback barely advancing following upbeat Retail Sales figures, hotter Producer Price Index.

Gold defies gravity near fresh record highs

Gold prices rapidly left behind Tuesday’s pullback and reached record highs near $4,640 on Wednesday, trading nearby in the American session. The yellow metal’s uptrend remains propped up by Fed rate cut bets, lower US Treasury yields across the curve, and absent speculative interest around the buck.

Crypto Today: Bitcoin, Ethereum, XRP hold steady as ETF inflows strengthen short-term bullish outlook

Bitcoin stays above $95,000, supported by growing institutional demand, with ETF inflows reaching $753 million on Tuesday. Ethereum is poised to extend its rebound above the 100-day EMA, supported by improving sentiment.

US economic outlook: January 2026

Jerome Powell's eight-year tenure as Chair of the Federal Reserve is coming to a close during a period of intense pressure on the US central bank and divided views among policymakers about the appropriate stance of monetary policy.

Meme Coins Price Prediction: DOGE, SHIB, and PEPE rally, catching Bitcoin's second wind

Meme coins such as Dogecoin, Shiba Inu, and Pepe recorded gains of 7% to 14% on Tuesday, signaling a potential reversal to the upside. DOGE and SHIB hold steady after the bounce back while the frog-themed PEPE extends gains, signaling further upside potential.