GM - Why Is Mullen (MULN) Stock Heating Up Today?
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Mullen (NASDAQ:MULN) stock is charging higher on Friday thanks to news of Ronald Dixon joining as its General Manager of Government Sales.
That’s worth noting as Dixon is a prior employee of General Motors (NYSE:GM). He spent over 20 years with the automobile maker and served as leader of its Federal Government Fleet Sales Team. His overall experience in the industry spans 42 years.
David Michery, chairman and CEO of Mullen, said the following about Dixon joining the company.
“This was a strategic move on our part to bring Ron in and open the door to government fleet sales opportunities. His experience is a perfect match for us and our vision for commercial EV sales success.”
How MULN Can Benefit From the Hire
Bringing on Dixon goes a long way toward Mullen being able to work with the Federal Government for EV orders. During his time at General Motors, Dixon was responsible for selling more than 500,000 units to the U.S. Government.
The addition of Dixon makes sense as the U.S. Government is focusing more and more on EVs. That includes plans to replace the government’s entire 650,000-vehicle fleet with American-made EVs. So far, only 1% of the fleet has made the switch, eaning there’s still plenty of room for MULN EVs.
MULN stock is up 2.9% as of Friday morning but is down 96.6% year-to-date.
Investors can check out all of the latest stock market news below!
We’ve got all of the coverage traders need to know about for Friday. That includes what has shares of Nio (NYSE:NIO), Boeing (NYSE:BA), and Bath & Body Works (NYSE:BBWI) stock moving today. Investors can find out more on these matters at the following links!
More Friday Stock Market News
- NIO Stock Has a HUGE Catalyst in 2023
- Dear Boeing (BA) Stock Fans, Mark Your Calendars for a ‘Historic Announcement’ on Dec. 13
- Billionaire Dan Loeb Is Betting on Bath & Body Works (BBWI) Stock
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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