MULN - Mullen Automotive stock touches 52-week low

2023-03-15 12:18:09 ET

Mullen Automotive ( NASDAQ: MULN ) shares slumped about 13% at the intraday low, touching a new 52-week low of just $0.13.

The drop for the penny stock comes amid heavy trading volume, with over 200M shares changing hands, nearly tripling the trading volume for Tesla on Wednesday. The stock was also noted for unusual options activity in this week’s catalyst watch .

Shares of Mullen have fallen over 90% in the past year, falling from a peak of $4.18 in March 2022 to just $0.13 on Wednesday. The company recently received an 180 day extension to meet Nasdaq listing requirements .

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