One of today’s most impressive market movers is Mullen Automotive (NASDAQ:MULN). Shares of MULN stock have absolutely exploded higher today, up around 17% as of early afternoon trading.
This move follows an announcement from the company that new stops will be added for its “Strikingly Different” electric vehicle (EV) tour. The company will now “cover the South, East Coast, Midwest, and West Coast before finishing up in California. All locations and details on how to register can be accessed here.”
This tour is intriguing, as it provides the ability for prospective car buyers and enthusiasts to test-drive Mullen’s EVs. Many of these tours will take place at racetracks across the U.S., allowing users to see how Mullen’s vehicles perform relative to the competition.
Given what appears to be a strong demand for more tour stops, the company has clearly amped up its marketing efforts to reach more consumers. Today’s surge in MULN stock appears to be a result of improved demand visibility for investors.
Let’s dive into what to make of this move and whether it can be sustained.
MULN Stock Surges on Additional Tour Stops
Mullen’s cross-country tour will feature the Mullen FIVE EV Crossover, Mullen FIVE RS High Performance Sport EV Crossover, Mullen GT High Performance Electric Sports Car, Mullen ONE Class 1 Commercial EV Cargo Van, Mullen THREE Class 3 Commercial Low Cab Forward, and the Bollinger B2 Electric Pick Up.
The tour is already underway, with August stops in Austin and New Orleans having taken place. Right now, this tour is ongoing at a Sept. 13 & 14 event in Charlotte, North Carolina.
While Washington, D.C., Philadelphia, and Las Vegas stops have already been announced, some new stops have been added and announced today. These include the following (as per the press release):
September 2023
New York City, New York — Sept. 22 & 23 at Citi Field
Boston, Massachusetts — Sept. 26 & 27 at New Hampshire Motor Speedway
October 2023
Detroit, Michigan — Oct. 3 & 4 at M1 Concourse
Denver, Colorado — Oct. 10 & 11 at Empower Field
Salt Lake City, Utah — Oct. 17 & 18 at Utah Motorsports Campus
Sonoma, California — Oct. 23 & 24 at Sonoma Motor Speedway
November 2023
Phoenix, Arizona — Nov. 6 & 7 at Podium Club
Los Angeles, California — Nov. 2023 TBD
On the date of publication, Chris MacDonald 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.
