Mullen Automotive ( (MULN) ) has released a notification of late filing.
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Mullen Automotive has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending March 31, 2025. The delay is primarily due to the need for additional time to finalize financial statements, particularly concerning the treatment of its subsidiary, Bollinger Motors, Inc., placed in receivership, and the potential transfer of assets related to a settlement agreement. The company anticipates filing the report within five calendar days following the prescribed due date. Preliminary financial results indicate a significant reduction in net loss from $171.4 million in 2024 to $53.9 million in 2025, attributed to reduced R&D expenses and gains from warrant revaluation. Mullen Automotive is committed to ongoing compliance efforts, as indicated by the signature of Jonathan New, Chief Financial Officer, on the notification.
Spark’s Take on MULN Stock
According to Spark, TipRanks’ AI Analyst, MULN is a Underperform.
Mullen Automotive’s overall stock score is low due to severe financial instability, weak technical indicators, and poor valuation metrics. While recent corporate events show attempts to align executive incentives, they are overshadowed by negative financial and technical fundamentals, reflecting significant risks and challenges.
To see Spark’s full report on MULN stock, click here.
More about Mullen Automotive
Average Trading Volume: 4,730,054
Technical Sentiment Signal: Sell
Current Market Cap: $4.7M
For a thorough assessment of MULN stock, go to TipRanks’ Stock Analysis page.