Tue Sep 17 07:20:57 UTC 2024: ## Mullen Automotive Sees Surge in Put Option Trading, Hedge Fund Interest
**Brea, CA – September 17, 2024** – Mullen Automotive, Inc. (NASDAQ:MULN) experienced significant activity in its options market on Monday, with investors purchasing 9,708 put options, a 490% increase from the typical daily volume. This surge in put option activity indicates a potential bearish sentiment among investors, suggesting they anticipate a decline in the company’s stock price.
Adding to the news, a hedge fund, Virtu Financial LLC, recently acquired a new stake in Mullen Automotive, purchasing 41,065 shares valued at approximately $214,000. This represents 0.63% of Mullen Automotive’s stock, highlighting growing institutional investor interest in the company. Overall, 11.71% of MULN stock is currently held by hedge funds and other institutional investors.
Shares of MULN opened at $0.12 on Tuesday, following a 12-month low of $0.11 and a 12-month high of $75.00. The company’s fifty-day moving average is $0.83, while its 200-day moving average sits at $3.07.
Mullen Automotive, a California-based electric vehicle manufacturer, specializes in passenger and commercial electric vehicles, along with solid-state polymer battery technology.
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