Mullen Automotive (NASDAQ: MULN) Acquires Distressed ELMS Assets in Bankruptcy, Including Indiana Factory Capable of Producing 50,000 Cars per Year
Mullen Automotive, Inc. (NASDAQ: MULN) operates as an emerging electric vehicle (EV) manufacturer. Shares of the EV company soared 57% during tradi...
Mullen Automotive, Inc. (NASDAQ: MULN) operates as an emerging electric vehicle (EV) manufacturer. Shares of the EV company soared 57% during trading on Wednesday, October 19, 2022. Over the past three months, Mullen Automotive has seen average daily volume of 79.24 million shares. However, volume of 491.89 million shares or dollar volume of around $167.24 million, exchanged hands during the day's trading. Shares of Mullen Automotive skyrocketed after the company announced the U.S. Bankruptcy Court has approved its acquisition of Electric Last Mile Solutions' (ELMS) electric vehicle assets in an all-cash purchase.