Mullen (NASDAQ:MULN) stock is bucking the trend of other electric vehicle (EV) companies today with its shares rising higher.
This comes after chairman and CEO David Michery appeared during an interview on Benzinga’s All Access Series this morning. That interview saw Michery answering several questions about the company’s upcoming products and plans.
Included in that interview is a response to the big news from Tesla (NASDAQ:TSLA) today. Founder and CEO Elon Musk revealed plans to cut 10% of the EV company’s workforce. This comes as he warned executives about a bad feelings concerning the economy. That warning sent shares of several other EV stocks lower today.
Michery said the following in response to a question about Musk’s statement, as collected from Electric Vehicles:
“Can’t impact us more than it already has. We operate on a fine line, we always think out of the box and ‘what if’ so we’re always addressing supply chains issues to ensure that we’re not gonna have any stoppages. As far as the employees are not really worried about that… We’re a small company, we have less than a couple hundred people working for us but they do the job of a thousand. We got people, as I stated earlier, that do multiple tasks. No one gets employed here unless they’re willing to work as much as I work.”
MULN stock is up 3.3% as of Friday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.