Mullen Automotive Inc (MULN)

[double_m]

Chit!!! Forgot all about this! But to blame to SP decline on this is hilarious.

MULN Stock Falls 18% as Mullen Misses I-GO Delivery Date
Shares of Mullen Automotive (NASDAQ:MULN) stock closed lower by 18% due to the company’s silence on the delivery status of its I-GO urban commercial electric delivery vehicle.

In November, Mullen announced that it would enter into a dealer agreement with Newgate Motor Group that would see Newgate purchase 500 vehicles per year and the initial units of the I-GO for testing and demonstration. The dealer agreement encompassed the terms in which Newgate would receive the first shipment of the I-GOs on Dec. 20. In addition, Mullen also said that the first I-GOs would be released in Germany during December.

The wording of the announcement was eye-catching, as Mullen stated that it “will also enter into a dealer agreement.” This may possibly suggest that Mullen had not yet entered into a dealer agreement with Newgate when the announcement was made.

Meanwhile, Newgate’s home page of its official website still displays a Mullen banner with a “Coming Soon” description. The dealership has over 40 years of experience in the automotive industry.

Still, the EV company has already entered into an agreement with Newgate that will see the dealership group become the servicing agent for the I-GO in the United Kingdom and Ireland. This means that Newgate will be in charge of sales, marketing, distribution, and service for the EV.
https://investorplace.com/2022/12/muln-stock-falls-18-as-mullen-misses-i-go-delivery-date/