MULN share alert: Mullen secures distribution partner for the Balkan region

Mullen Automobiles (NASDAQ:MUL) shares are moving on Friday after the company announced a new distribution partner for its electric vehicles (EV) in the Balkan region.

Mullen Automotive has partnered with GAMA as one of its new distribution partners in Europe to distribute Mullen Automotive’s commercial electric vehicle product line in the region.

David Michery, Chairman and CEO of Mullen Automotive, said the following about this new deal with GAMA.

“This is part of Mullen’s global expansion into additional European markets and we are pleased to announce GAMA as our first distributor for the Balkan region of Southeastern Europe.”

Mullen Automotive points out that this will bring its commercial electric vehicles to the eight GAMA dealers in the Balkan region, including on-site sales, service and spare parts supply.

How this affects MULN shares

MULN stock is reacting positively to today’s news of expanded distribution partners, with shares up 9.5% since Friday afternoon. However, MULN shares are still down 65.9% year-to-date.

MULN is not seeing much trading activity today, moving about 762,000 units. This is still far from its daily average trading volume of about 4.4 million shares.

There are plenty of other stock market stories that traders will enjoy reading about on Friday!

Luckily, we have all of that covered in today’s market coverage! This includes what’s happening with Archer Aviation (NYSE:ACHR), Live Nation Entertainment (NYSE:LYV) And Clear (NASDAQ:LCID) share today. Find all this news below!

More stock market news for Friday

At the time of publication, William White had no position (either directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing guidelines.

Article printed by InvestorPlace Media, https://investorplace.com/2024/05/muln-stock-alert-mullen-secures-distribution-partner-for-balkans-region/.

©2024 InvestorPlace Media, LLC