Mullen Automotive (NASDAQ:MULN) Shares Down 9.9% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 9.9% during mid-day trading on Thursday . The stock traded as low as $1.17 and last traded at $1.19. 1,530,651 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 1,012,933 shares. The stock had previously closed at $1.32.

Mullen Automotive Price Performance

The stock has a 50 day moving average price of $2.29 and a 200 day moving average price of $75.39.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the SEC. Institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.