What's Going On With Mullen Automotive Stock?

Mullen Automotive Inc (NASDAQ:MULN) shares are trading higher Thursday. The stock initially popped after hours Wednesday and continued higher Thursday after the company said the New York Power Authority (NYPA) began testing its EV Cargo Vans.

What Happened: Mullen announced the launch of a new EV pilot program. The company said NYPA began testing its electric Campus Delivery Utility Vehicles in upstate New York.

"It takes a few organizations to start the buzz of sustainability in each state. We see NYPA as one of the first movers in New York. We look forward to enhancing NYPA and other fleets' sustainability goals with our various all-electric commercial vehicles," said John Schwegman, chief commercial officer of Mullen.

NYPA is a power generation and transmission company. It's the largest state public power organization in the nation. 

After the close on Wednesday Mullen highlighted a recent interview regarding naked short selling with its CEO David Michery in a new regulatory filing. 

Last week, Mullen announced that it retained Christian Attar, in partnership with Warshaw Burstein LLP, to investigate and expose any potential wrongdoing related to a "market manipulation scheme" involving illegal naked short selling.

Mullen previously announced that it was taking affirmative steps to address concerns regarding "extraordinary trading volume and evidence of unusually high levels of failure to deliver on short sales."

See Also: Why Delta Air Lines Shares Are Rising Today

MULN Price Action: Mullen shares were up 9.19% at 15 cents at the time of publication, according to Benzinga Pro.

Photo: Paul Brennan from Pixabay.