MULN - 'Significant Milestone': What's Going On With Mullen Automotive Stock Thursday? | Benzinga
Mullen Automotive Inc (NASDAQ:MULN) shares traded higher early Thursday before paring gains. Here’s a look at what’s going on.
What To Know: Mullen on Thursday announced that it has been approved for Foreign Trade Zone (FTZ) status with the U.S. Department of Commerce for its commercial vehicle manufacturing and assembly center in Mississippi.
The FTZ approval qualifies the company for a variety of benefits, including deferment of payments on duties related to import fees. For domestic U.S. sales, Mullen will now be able to match import duty payment to when vehicles are shipped from the zone. The company highlighted this as a key benefit, noting that it will reduce the pressure on cash flow.
Mullen estimated ...