MULN Stock Alert: Mullen Announces 1-for-25 Reverse Stock Split
The anticipated MULN reverse stock split is finally here
$Mullen Automotive(MULN.US$ will enact a 1-for-25 reverse stock split tomorrow, May 4.
The split was authorized in order to meet the Nasdaq minimum price requirement of $1.
MULN stock is down more than 80% year-to-date (YTD).
$Mullen Automotive(MULN.US$ will enact a 1-for-25 reverse stock split tomorrow, May 4.
The split was authorized in order to meet the Nasdaq minimum price requirement of $1.
MULN stock is down more than 80% year-to-date (YTD).
$Mullen Automotive(MULN.US$ is plummeting more than 20% today. This comes after the electric vehicle (EV) company announced it would enact a 1-f0r-25 reverse stock split. The split will become effective tomorrow, May 4.
The split shouldn’t come as a surprise to shareholders. This is because the price of MULN has been below $1 since July 2022. Shareholders also voted in favor of a reverse split in a ratio between 1-for-2 and 1-for-25 at the company’s last special meeting of stockholders.
MULN stock is listed on the Nasdaq, which requires it to have a minimum price of $1. The deadline for Mullen to achieve this threshold was extended to Sept. 5 after shares failed to reach $1 for 10 consecutive business days on March 6, the date of the first deadline.
MULN Stock: Mullen Announces 1-for-25 Reverse Stock Split
In the reverse split announcement, Mullen noted that it would not provide fractional shares sustained as a result of the reverse split. Instead, all fractional shares will be rounded up to the nearest whole share. No action is required for shareholders relating to the reverse split.
Shares of $Mullen Automotive(MULN.US$ are currently trading for approximately 6 cents. A 1-for-25 reverse split will bring shares to about $1.50, satisfying the minimum price requirement.
Whether reverse stock split is good for stock price？ $Mullen Automotive(MULN.US$ $Tesla(TSLA.US$
The split shouldn’t come as a surprise to shareholders. This is because the price of MULN has been below $1 since July 2022. Shareholders also voted in favor of a reverse split in a ratio between 1-for-2 and 1-for-25 at the company’s last special meeting of stockholders.
MULN stock is listed on the Nasdaq, which requires it to have a minimum price of $1. The deadline for Mullen to achieve this threshold was extended to Sept. 5 after shares failed to reach $1 for 10 consecutive business days on March 6, the date of the first deadline.
MULN Stock: Mullen Announces 1-for-25 Reverse Stock Split
In the reverse split announcement, Mullen noted that it would not provide fractional shares sustained as a result of the reverse split. Instead, all fractional shares will be rounded up to the nearest whole share. No action is required for shareholders relating to the reverse split.
Shares of $Mullen Automotive(MULN.US$ are currently trading for approximately 6 cents. A 1-for-25 reverse split will bring shares to about $1.50, satisfying the minimum price requirement.
Whether reverse stock split is good for stock price？ $Mullen Automotive(MULN.US$ $Tesla(TSLA.US$
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Joey 18C : WTF, the alleged reason for the stock split was to get the stock price up over a dollar so you being fucked around that’s what I feel because now we’re right back to where we started late yesterday
Andre88888888 : Stock split to get shorted to oblivion again
buffetsson : Exactly
GreenDay : Shorts are struggling right now. They are in new territory without enough shares to drive it lower. We will see.
GreenDay : Have to see if the Dark Pool can sustain the Hedge Funds that are shorting this stock with such high volume trading.
73365581 : Green Day... Shorts are not struggling here!! They are celebrating their new 1.40 ish of run way back to .06. Only hope is the lower float, till Michery dillutes again to feed the shorts and their maybe fraudulent operations. I hope it takes off, got a stupid bag myself..but I'm not very optimistic. Same story with IMPP