MULN - Why Is Mullen Automotive (MULN) Stock Down 11% Today?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Mullen Automotive (NASDAQ:MULN) stock is falling on Tuesday as investors prepare for an upcoming shareholder meeting.
A filing with the U.S. Securities and Exchange Commission (SEC) reveals Mullen Automotive intends to hold a special shareholder meeting on Jan. 19, 2023. The meeting will start at 11:00 a.m. Eastern Time and will be available via live audiocast.
The shareholder meeting concerns two putative stockholder class actions filed against the company in December. The complaints from these plaintiffs have to do with the increase in outstanding shares that occurred during the July 26, 2022, annual meeting of stockholders.
According to these plaintiffs, a majority of shareholders did not vote in favor of the share increase. This has it intending to ratify the 2022 Certificate Amendment with a Delaware Court of Chancery filing. The date for a hearing covering this is Jan. 23, 2023.
What Else Is Happening With MULN Stock
Investors will also note that Mullen Automotive recently filed its Form 1o-K annual report for the year ended Sept. 30. The company cut it close by getting the filing into the SEC on Friday. It only had until 5:30 p.m. Eastern Time to file the form.
All of these recent actions aren’t inspiring confidence in investors today. As a result, the company’s stock is down 11.2% in pre-market trading on Tuesday.
Investors looking for all of the latest stock market news are in luck!
InvestorPlace is home to all of the hottest stock news traders need to know about on Tuesday! A few examples include what’s happening with shares of Viveve Medical (NASDAQ:VIVE), MGO Global (NASDAQ:MGOL), and Calyxt (NASDAQ:CLXT) stock today. You can catch up on these matters at the links below!
More Tuesday Stock Market News
- Why Is Viveve Medical (VIVE) Stock Down 69% Today?
- Why Is MGO Global (MGOL) Stock Up 37% Today?
- Why Is Calyxt (CLXT) Stock Up 140% 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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that? InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:?Penny Stocks — How to Profit Without Getting Scammed
More From InvestorPlace
- Buy This $5 Stock BEFORE This Apple Project Goes Live
- The Best $1 Investment You Can Make Today
- Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Why Is Mullen Automotive (MULN) Stock Down 11% Today? appeared first on InvestorPlace.