MULN Stock Forecast: Mullen Automotive losing streak hits six as stocks fall ahead of CPI report
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CLAIM OFFER- NASDAQ: MULN fell by 2.6% during Wednesday’s trading session.
- Yet another EV recall has some questioning these startup companies.
- Rivian could have the inside track on Amazon’s European EV delivery truck market.
Mullen Automotive (MULN) extended its recent losing streak to six straight days as stocks fell yet again ahead of the key September CPI report on Thursday. On Wednesday, shares of MULN fell by 2.6% and closed the trading session at a price of $0.25. Stocks fell during another turbulent Wednesday as the S&P 500 also closed lower for the sixth straight day. On Thursday, the CPI report for September will be released and provide the latest insight into the state of inflation in the US economy. The Dow Jones lost 0.1%, the S&P 500 fell by 0.3%, and the Nasdaq saw a modest loss of 0.1% during the session.
Mullen Automotive stock price
On Wednesday, another electric vehicle recall was issued by startup company Lucid (LCID) for 571 of its luxury EVs. The announcement comes on the heels of a recall from fellow EV startup Rivian (RIVN) earlier in the week for over 12,000 of its electric trucks. The number of recalls has called into question the reliability of these early-stage EV makers. On a positive note, both Lucid and Rivian have reaffirmed their production targets for 2022, which led to both stocks closing higher during Wednesday’s session.
Rivian remains a rival to Mullen in the electric delivery truck market. A new report from The Verge suggests that Rivian is set to produce the electric delivery truck fleet for Amazon (AMZN) in Europe as well. Amazon is one of the biggest investors in Rivian, and the two already have a deal for 100,000 electric delivery trucks in the United States. Rivian also recently partnered with Mercedes Benz to produce electric delivery vans in Europe.
MULN performance chart 10/12/22
- NASDAQ: MULN fell by 2.6% during Wednesday’s trading session.
- Yet another EV recall has some questioning these startup companies.
- Rivian could have the inside track on Amazon’s European EV delivery truck market.
Mullen Automotive (MULN) extended its recent losing streak to six straight days as stocks fell yet again ahead of the key September CPI report on Thursday. On Wednesday, shares of MULN fell by 2.6% and closed the trading session at a price of $0.25. Stocks fell during another turbulent Wednesday as the S&P 500 also closed lower for the sixth straight day. On Thursday, the CPI report for September will be released and provide the latest insight into the state of inflation in the US economy. The Dow Jones lost 0.1%, the S&P 500 fell by 0.3%, and the Nasdaq saw a modest loss of 0.1% during the session.
Mullen Automotive stock price
On Wednesday, another electric vehicle recall was issued by startup company Lucid (LCID) for 571 of its luxury EVs. The announcement comes on the heels of a recall from fellow EV startup Rivian (RIVN) earlier in the week for over 12,000 of its electric trucks. The number of recalls has called into question the reliability of these early-stage EV makers. On a positive note, both Lucid and Rivian have reaffirmed their production targets for 2022, which led to both stocks closing higher during Wednesday’s session.
Rivian remains a rival to Mullen in the electric delivery truck market. A new report from The Verge suggests that Rivian is set to produce the electric delivery truck fleet for Amazon (AMZN) in Europe as well. Amazon is one of the biggest investors in Rivian, and the two already have a deal for 100,000 electric delivery trucks in the United States. Rivian also recently partnered with Mercedes Benz to produce electric delivery vans in Europe.
MULN performance chart 10/12/22
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