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Mullen Automotive shares plunge on reverse stock split announcement

Last Updated: May 3, 2023 at 6:19 p.m. ET First Published: May 3, 2023 at 2:55 p.m. ET Mullen Automotive Inc. will conduct a 1-for-25 reverse stock split as the electric vehicle company looks to maintain its Nasdaq listing Mullen Automotive Inc. stock will continue to trade on the Nasdaq Capital Market. AFP/Getty Images Mullen
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Mullen Automotive Inc. will conduct a 1-for-25 reverse stock split as the electric vehicle company looks to maintain its Nasdaq listing

Mullen Automotive Inc. stock will continue to trade on the Nasdaq Capital Market.

AFP/Getty Images

Mullen Automotive Inc. will conduct a 1-for-25 reverse stock split as the electric-vehicle company looks to maintain its Nasdaq listing.

The company’s stock, which has been attracting meme-like attention, ended Wednesday’s session down 21.1%.

The stock will continue to trade on the Nasdaq Capital Market under the existing symbol “MULN” and…

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