Mullen Automotive MULN inventory dropped on Thursday because it introduced it could formally change its identify to Bollinger Improvements, efficient July 28, 2025.
On the identical day, the corporate’s frequent inventory will start buying and selling on the Nasdaq Capital Market beneath the brand new ticker image BINI. The CUSIP quantity for the inventory will stay unchanged.
The corporate confirmed that this identify and ticker replace is not going to have an effect on its authorized construction or enterprise operations, and shareholders don’t must act.
Additionally Learn: Mullen Automotive (MULN) Inventory Surges After Saying Acceptance Of Bitcoin And TRUMP Coin For EV Purchases
CEO and Chairman David Michery stated the transfer represents greater than a rebranding. “We’re bringing our merchandise and types collectively beneath one robust and unified id, able to service the industrial automobile trade.”
Final week, Mullen introduced restructuring plans by merging its operations with subsidiary Bollinger Motors, rebranding as Bollinger Improvements, and updating its Nasdaq ticker image earlier than August 15, 2025.
The corporate shared plans to centralize industrial automobile operations in Oak Park, Michigan, and consolidate all gross sales, advertising, and repair beneath the Bollinger model to streamline operations and enhance monetary effectivity.
Since early 2025, Mullen has minimize 155 jobs and expects to avoid wasting no less than $35 million yearly. Executives stated the transfer will get rid of redundant roles and focus sources on its core Class 1, 3, and 4 electrical industrial automobile choices, together with the Mullen ONE, Mullen THREE, and Bollinger B4.
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Mullen inventory has plunged 100% year-to-date because it grappled with monetary losses and a scarcity of constant progress within the aggressive EV market. In 2025, it accomplished three reverse inventory splits—on February 18, April 11, and June 2—to satisfy Nasdaq’s $1 minimal bid value requirement. Every cut up decreased the variety of excellent shares.
Extra headwinds might come from the U.S. regulatory panorama. The U.S. Home of Representatives handed President Donald Trump’s “Huge Lovely Invoice,” eliminating the $7,500 tax credit score for brand spanking new U.S.-made EVs. The tax credit score will expire on September 30, main some automakers to begin elevating electrical automobile costs in anticipation.
Nonetheless, the corporate additionally has its share of guarantees. On June 3, Mullen introduced plans to relaunch its FIVE RS EV Crossover in Germany this December, after finishing 800-volt battery testing in Munich.
The corporate will start on-road testing subsequent and plans to broaden gross sales to the EU, UAE, and South Africa in 2026. To help worldwide progress, Mullen partnered with German agency FPF to make sure high-quality manufacturing earlier than getting into the U.S. market.
On June 25, Mullen revealed it could start accepting Bitcoin and TRUMP Coin for EV purchases, aiming to draw crypto-enthusiasts and politically engaged customers whereas boosting model publicity by way of meme coin tradition.
Value Motion: MULN shares are buying and selling decrease by 17.80% to $0.062 ultimately examine Thursday.
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