Lesser-Known EV Company Finds Massive Success On Tuesday

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, November 12, 2024

An EV manufacturing company based out of California found a tremendous amount of success on Tuesday after the company announced its Class 1 EV cargo van is listed for vehicle rental on Turo.

Traders didn’t hesitate in the slightest to snatch ups shares of Mullen Automotive Inc. (Nasdaq:MULN), pushing the micro cap up to $3.42/share (+100.00%) at the early session high. This rally was the first sign of lift form this stock as it has been riding a multi-month downtrend pretty much all year.

Mullen Automotive Inc is engaged in manufacturing electric vehicles and energy solutions. The company strives to make electric vehicles more accessible by building an end-to-end ecosystem that takes care of all aspects of electric vehicle ownership.

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Federal National Mortgage Association was a technical “one to watch” on Wednesday. Shares moved 11.94%, settling at $3.14 as the stock provided technicians with a Golden Cross (50 DMA / 200 DMA) technical signal.

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Lesser-Known EV Company Finds Massive Success On Tuesday

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