Mullen Automotive (NASDAQ:MULN) Shares Down 6.2% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $0.85 and last traded at $0.90. Approximately 3,640,841 shares changed hands during trading, a decline of 60% from the average daily volume of 9,164,441 shares. The stock had previously closed at $0.95.

Mullen Automotive Trading Down 12.0 %

The business’s fifty day moving average price is $1.95 and its 200-day moving average price is $50.06.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent quarter. Institutional investors own 11.71% of the company’s stock.

About Mullen Automotive

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.