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Why Mullen Automotive Stock Cruised to a 10% Gain This Week

Eric Volkman, The Motley Fool
·2-min read
Why Mullen Automotive Stock Cruised to a 10% Gain This Week

After it was voted down, Mullen's stock raced to a 10% increase over the course of the week, according to data compiled by S&P Global Market Intelligence. In a special meeting of shareholders held on Wednesday, Mullen conducted a vote on that reverse stock split. While maintaining a stock market listing isn't do-or-die for businesses, maintaining a presence is vital for both prestige and for potential capital-raising efforts in the future.

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