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Mullen Automotive (NASDAQ:MULN) stock is up on Friday after the electric vehicle (EV) company brought in a new executive to handle sales of its products in Europe.
Alain Van Munster is joining Mullen as the EV company’s new VP of Europe, the Middle East, and Africa. The executive brings with him 25 years of experience in the automotive industry. Munster’s previous positions include leadership roles at both Copart (NASDAQ:CPRT) and Manheim.
Mullen Automotive chairman and CEO David Michery said the following about the company’s new hire:
“Europe presents a tremendous opportunity for our commercial vehicles and positions us for significant growth. Alain’s proven track record in the automotive industry and understanding of European markets will be instrumental in driving our expansion.”
This addition is part of the company’s efforts to capture more of the European market. That includes recently securing a new distribution partner in GAMA securing fleet orders in the reigon.
MULN Stock Movement on Friday
With today’s news comes strong trading for MULN shares. As of this writing, nearly 3.1 million units have changed hands. That’s closing in on the company’s daily average trading volume of about 4.4 million shares.
MULN stock is up 14.2% as of Friday afternoon but is down 65.4% since the start of the year.
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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.
Source link : https://investorplace.com/2024/05/muln-stock-alert-mullen-automotive-hires-new-head-of-europe-sales/
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Publish date : 2024-05-31 17:07:50
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