Mullen Automotive captures growing social media attention amid spike (NASDAQ:MULN)
Mullen Cars (NASDAQ:MULN) to drop by nearly 95% by 2022 does not dampen social media interest in the name.
More than 265 million shares changed hands on Friday, well above the already very high average daily volume of about 181 million shares. Significant increase in trading volume stemming from the name topped StockTwits’ chart as the most active individual name discussed on the platform.
While shares of the California-based EV startup are still down from their November 2021 peak, it marked a strong rebound in early December.
Are from hit a 52-week low was $0.18 on Nov. 30, the stock jumped more than 60%. These strong gains have been supported by ends a deal for defunct EV startup Electric Last Mile Solutions and 200 million dollar order revealed so far in December.
According to SeekingAlpha data, short interest on this name is 11.81%.
Read more about the company EV charging partnership with Loop.