Mullen Automotive MULN stock dropped on Thursday as it revealed it would formally alter its name to Bollinger Developments, efficient July 28, 2025.
On the exact same day, the business’s typical stock will start trading on the Nasdaq Capital Market under the brand-new ticker sign BINI. The CUSIP number for the stock will stay the same.
The business validated that this name and ticker upgrade will not impact its legal structure or service operations, and investors do not require to act.
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CEO and Chairman David Michery stated the relocation represents more than a rebranding. “We are bringing our items and brand names together under one strong and unified identity, prepared to service the industrial automobile market.”
Recently, Mullen revealed restructuring strategies by combining its operations with subsidiary Bollinger Motors, rebranding as Bollinger Innovations, and upgrading its Nasdaq ticker sign before August 15, 2025.
The business shared strategies to centralize industrial automobile operations in Oak Park, Michigan, and combine all sales, marketing, and service under the Bollinger brand name to improve operations and improve monetary performance.
Because early 2025, Mullen has actually cut 155 tasks and anticipates to conserve a minimum of $35 million yearly. Executives stated the relocation will remove redundant functions and focus resources on its core Class 1, 3, and 4 electrical industrial automobile offerings, consisting of the Mullen ONE, Mullen 3, and Bollinger B4.
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Mullen stock has actually plunged 100% year-to-date as it came to grips with monetary losses and an absence of constant development in the competitive EV market. In 2025, it finished 3 reverse stock divides– on February 18, April 11, and June 2– to satisfy Nasdaq’s $1 minimum quote rate requirement. Each split decreased the variety of impressive shares.
Extra headwinds might originate from the U.S. regulative landscape. The U.S. Legislature passed President Donald Trump’s “Big Beautiful Expense,” getting rid of the $7,500 tax credit for brand-new U.S.-made EVs. The tax credit will end on September 30, leading some car manufacturers to begin raising electrical automobile rates in anticipation.
Nevertheless, the business likewise has its share of guarantees. On June 3, Mullen revealed strategies to relaunch its 5 RS EV Crossover in Germany this December, after finishing 800-volt battery screening in Munich.
The business will start on-road screening next and prepares to broaden sales to the EU, UAE, and South Africa in 2026. To support worldwide development, Mullen partnered with German company FPF to guarantee premium production before getting in the U.S. market.
On June 25, Mullen exposed it would start accepting Bitcoin and TRUMP Coin for EV purchases, intending to draw in crypto-enthusiasts and politically engaged customers while enhancing brand name direct exposure through meme coin culture.
Cost Action: MULN shares are trading lower by 17.80% to $0.062 at last check Thursday.
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