MULN Stock Alert: Mullen Automotive Hires New Head of European Sales

Mullen Automobiles (NASDAQ:MUL) shares rose on Friday after the electric vehicle (EV) company hired a new executive to lead sales of its products in Europe.

Alain Van Munster joins electric vehicle manufacturer Mullen Automotive as its new Vice President for Europe, the Middle East and Africa. The manager brings 25 years of experience in the automotive industry. Munster’s previous positions include management positions at Copart and Manheim.

David Michery, chairman and CEO of Mullen Automotive, said the following about the company’s new hire.

“Europe offers tremendous opportunities for our commercial vehicles and positions us for significant growth. Alain’s proven track record in the automotive industry and his understanding of the European markets will be critical to our expansion.”

This expansion is part of the company’s efforts to capture a larger share of the European market, which includes the recent securing of a new distributor in GAMA, securing fleet orders in the region.

MULN stock movement on Friday

With today’s news comes heavy trading in MULN stock. At the time of this writing, nearly 3.1 million units have changed hands. That’s approaching the company’s daily average trading volume of about 4.4 million shares.

MULN shares are up 14.2% since Friday afternoon, but have lost 65.4% since the beginning of the year.

Investors should stay on top of things so as not to miss the latest stock market news!

We have all of the biggest stock movers on Friday ahead of the IPO! This includes a Rivian (NASDAQ:RIVN) Inventory update, why the Dow Jones Industrial Average drops this week and more. You can read all this news at the links below!

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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-automotive-hires-new-head-of-europe-sales/.

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