$MULN stock back, baby, as it surges 7% on battery testing news. MULN stock announces battery test with Battery Innovation Center, Indiana. Mullen Automotive still has many unanswered questions and remains a high-risk play by ivanbrian9 stocks trading
MULN stock announces battery test with Battery Innovation Center, Indiana.Mullen Automotive stock is back, and it is rising in Thursday's regular session. However, we immediately must put a caveat that one of our key signals is in danger of being met. MULN stock spiked nearly 13% higher in the premarket and already has dropped 5% once the regular session opened. This is one of the signals we look for when momentum is fading. So be warned, this could be a very short-lived advance.
This will come as welcome news to MULN investors who have been suffering since Hindenburg Research issued a negative report on the company. Question marks remain though in investors' minds, and that is tempering any significant reaction to this. For us, this is a long way short of what will make us invest here. It remains highly speculative. Momentum trading requires strong volume to maintain the move, and generally the premarket volume is significantly lower than the regular session.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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