Mullen Automotive's $25 Million Stock Buyback Program Sparks Market Surge
Originally Published 2 years ago — by GlobeNewswire
Mullen Automotive, an emerging electric vehicle manufacturer, has announced a stock buyback program of up to $25 million in shares of its outstanding common stock. The company believes its stock is significantly undervalued and trading at a discount to its current cash position. The buyback program will be in effect until December 31, 2023, and the shares may be repurchased in the open market or through privately negotiated transactions. The program is seen as an opportunity to deploy capital and return value to shareholders.