HYZN - MULN Stock Alert: Mullen Shares Just Hit a New 52-Week Low
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Mullen (NASDAQ:MULN) stock isn’t performing well on Wednesday as investors react to the electric vehicle (EV) company hitting a new 52-week low.
MULN stock closed out trading on Tuesday at 20 cents per share, which is both a new 52-week low as well as a new all-time low for the shares. That comes as the company’s stock has been on a downward trend in 2022 with shares down 96.7% since the start of the year.
Adding to that is the company not providing an update to investors about a delivery deadline. The company said back in July that it would deliver 300 Class 2 cargo vans to DelPack by Nov. 30. Mullen hasn’t said anything about that delivery leading up to today’s deadline.
MULN Stock Isn’t The Only EV Startup Falling
While there’s no doubt investors are unimpressed by Mullen’s recent performance. It’s not the only EV startup having troubles lately. Rival EV company Hyzon Motors (NASDAQ:HYZN) is also among those not performing well.
Just like with MULN stock, shares of HYZN have been on a downward spiral throughout 2022. That’s also resulted in shares of HYZN stock also hitting a new 52-week, as well as all-time, low.
MULN stock is down 5% as of Wednesday afternoon.
Investors seeking out more of the most recent EV stock market news are going to want to keep reading!
InvestorPlace has them covered with our dives into all of the biggest stock market stories for Wednesday! A few examples include what has shares of Arcimoto (NYSE:FUV) falling, why Chinese EV stocks are rising today, as well as the news sending Xpeng (NYSE:XPEV) stock higher today. You can find out all about these matters at the following links!
More Wednesday Stock Market News
- Arcimoto (FUV) Stock Falls After 1-for-20 Reverse Split
- Why Are Chinese EV Stocks XPEV, LI, NIO Up Today?
- Why Is Xpeng (XPEV) Stock Up 35% Today?
On the date of publication, William White 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.
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