Mullen Automotive, Inc. MULN shares are trading higher Monday despite a lack of company-specific news.
What To Know:
Last Thursday, the company announced that it had filed an appeal to the determination by the Nasdaq Listing Qualifications Department and had requested an extension of time to present its plan to regain compliance with Nasdaq minimum bid listing requirement.
Mullen received notice on Sept. 6 indicating that the company did not meet the Sept. 5 deadline to regain compliance with Nasdaq Listing 5550(a)(2) due to its failure to maintain a minimum bid price of $1.00.
Shares of Mullen Automotive are moving higher on above-average trading volume. According to data from Benzinga Pro, more than 35 million shares have already been traded in the session, compared to the stock's 100-day average of 56.521 million shares.
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MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are up 12.8% at 47 cents at the time of publication.
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