Mullen Automotive (NASDAQ:MULN) stock is on the move Friday after the company announced a new distribution partner for its electric vehicles (EV) in the Balkans Region.
Mullen Automotive is teaming up with GAMA as one of its new distributors in Europe. This will have the company handle the distribution of Mullen Automotive’s commercial EV product line in the area.
Mullen Automotive chairman and CEO of David Michery said the following about this new deal with GAMA.
“This is part of Mullen’s global expansion into additional European markets and we are excited to secure and announce GAMA as a first distributor for the Balkans Region of southeastern Europe.”
Mullen Automotive notes that this will bring its commercial EVs to GAMA’s eight sub dealers in the Balkan Region. This will include sales, service and parts operation in the location.
How This Affects MULN Stock
MULN stock is reacting well to today’s distribution partner expansion news. This has the stock up 9.5% as of Friday afternoon. However, shares of MULN are still down 65.9% since the start of the year.
MULN isn’t seeing much trading activity today with about 762,000 units moving. That’s still a far way off from its daily average trading volume of about 4.4 million shares.
There are plenty of other stock market stories traders are going to want to read about on Friday!
Fortunately, we have all of that ready to go with our market coverage today! Among that is what’s going on with Archer Aviation (NYSE:ACHR), Live Nation Entertainment (NYSE:LYV) and Lucid (NASDAQ:LCID) stock today. All of this news is ready below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
