Mullen Automotive, Inc. (NASDAQ:MULN) shares are moving higher Friday on above-average trading volume. The company on Tuesday reported Q4 results.
What To Know:
Mullen reported fourth-quarter losses of $15.32 per share, compared to losses of $6,233.08 loss per share from the same period last year.
"We are coming off our strongest quarter to date for vehicle production and deliveries. For the three months ended Dec. 31, 2023, the Company delivered 231 vehicles. For the 12 months ended Sept. 30, 2023, the Company delivered a total of 35 vehicles," said David Michery, CEO of Mullen Automotive.
"Our pivot to focus on commercial EVs last year was a strategic move and has been paying off as we continue to see increased demand across our CAMPUS, Class 1 and Class 3 EVs and PowerUP charging trucks," Michery added.
On Friday Mullen announced Bollinger Motors has named LaFontaine Automotive Group as its first authorized dealer with two locations in Lansing and Farmington Hills, Michigan on Wednesday.
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MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are up 22.2% at $9.30 at the time of publication.
Image: Courtesy of Mullen Automotive, Inc.