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Wed, February 8 at 8:00PM ET

MULN Stock Alert: Mullen Shares Just Hit a New 52-Week Low

  • Mullen (MULN) stock is sliding lower as shares hit a new 52-week low.
  • This has MULN joining other electric vehicle (EV) startups that are not doing well.
  • The company also has yet to give an update about a delivery deadline today.
The Mullen (MULN Stock) Five vehicle is displayed at the 2021 LA Auto Show media day in Los Angeles, November, 18, 2021.

Source: Ringo Chiu / Shutterstock.com

Mullen (NASDAQ:MULN) stock isn’t performing well on Wednesday as investors react to the electric vehicle (EV) company hitting a new 52-week low.

MULN stock closed out trading on Tuesday at 20 cents per share, which was both a new 52-week low and a new all-time low. This comes as the stock has been on a downward trend in 2022; MULN is down 97% since the start of the year.

Adding to that is the company not yet providing an update to investors about a delivery deadline. Back in July, Mullen said that it would deliver 300 Class 2 cargo vans to DelPack by Nov. 30. The company hasn’t said anything about that delivery leading up to today’s deadline.

MULN Stock Isn’t the Only EV Startup Falling

There’s no doubt investors are unimpressed by Mullen’s recent performance, but it’s not the only EV startup having troubles lately. Rival Hyzon Motors (NASDAQ:HYZN) is also not performing well.

Just like with MULN stock, shares of HYZN stock have been on a downward spiral throughout 2022. That has also resulted in shares of HYZN hitting a new 52-week as well as an all-time low.

MULN stock is down 5% as of Wednesday afternoon.

Investors seeking out more of the most recent EV stock market news are going to want to keep reading!

InvestorPlace has them covered with our dives into all of the biggest stock market stories for Wednesday! A few examples include what has shares of Arcimoto (NASDAQ:FUV) falling, why Chinese EV stocks are rising today and the news sending Xpeng (NYSE:XPEV) stock higher. You can find out all about these matters at the following links!

More Wednesday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2022/11/muln-stock-alert-mullen-shares-just-hit-a-new-52-week-low/.

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