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Wed, April 5 at 4:00PM ET

Why Is Mullen (MULN) Stock Heating Up Today?

  • Mullen (MULN) stock is rising on Friday after an interesting hire.
  • Ronald Dixon is joining the electric vehicle (EV) maker as its General Manager of Government Sales.
  • Dixon has over 20 years of experience leading General Motors’ (GM) Federal Government Fleet Sales Team.
A close-up shot of the gold Mullen (MULN) FIVE.

Source: Sam the Leigh / Shutterstock.com

Mullen (NASDAQ:MULN) stock is charging higher on Friday thanks to news of Ronald Dixon joining as the company’s General Manager of Government Sales.

This is worth noting because Dixon is a prior employee of General Motors (NYSE:GM). Reportedly, the executive spent more than 20 years with the legacy automaker and served as leader of its Federal Government Fleet Sales Team. His overall experience in the industry spans 42 years.

David Michery, Chairman and CEO of Mullen, said the following about Dixon joining the company:

“This was a strategic move on our part to bring Ron in and open the door to government fleet sales opportunities […] His experience is a perfect match for us and our vision for commercial EV sales success.”

How MULN Can Benefit From the Hire

Bringing on Dixon will go a long way toward helping Mullen work with the federal government for electric vehicle (EV) orders. During his time at General Motors, Dixon was responsible for selling more than 500,000 units to the U.S. government.

The addition of Dixon makes sense especially as the U.S. government focuses more and more on EVs. This includes federal plans to replace 650,000 government vehicles with American-made EVs. So far, only about 1% of the fleet has made the switch to electric, meaning there’s still plenty of room for Mullen EVs.

MULN stock is up 2.9% as of Friday morning but also down 96.6% year-to-date (YTD).

Investors can check out all of the latest stock market news below!

We’ve got all of the coverage traders need to know about for Friday. That includes what has shares of Nio (NYSE:NIO), Boeing (NYSE:BA) and Bath & Body Works (NYSE:BBWI) stock moving today. Investors can find out more on these matters at the following links!

More Friday Stock Market News

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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/2022/12/why-is-mullen-muln-stock-heating-up-today/.

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