Mullen Automotive MULN inventory dropped on Thursday because it introduced it will formally change its title to Bollinger Improvements, efficient July 28, 2025.
On the identical day, the corporate’s widespread inventory will start buying and selling on the Nasdaq Capital Market underneath the brand new ticker image BINI. The CUSIP quantity for the inventory will stay unchanged.
The corporate confirmed that this title and ticker replace won’t 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 underneath one robust and unified identification, able to service the industrial car business.”
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 car operations in Oak Park, Michigan, and consolidate all gross sales, advertising, and repair underneath the Bollinger model to streamline operations and increase monetary effectivity.
Since early 2025, Mullen has lower 155 jobs and expects to save lots of at the least $35 million yearly. Executives stated the transfer will remove redundant roles and focus sources on its core Class 1, 3, and 4 electrical industrial car 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 development within the aggressive EV market. In 2025, it accomplished three reverse inventory splits—on February 18, April 11, and June 2—to fulfill Nasdaq’s $1 minimal bid value requirement. Every break up lowered the variety of excellent shares.
Extra headwinds may come from the U.S. regulatory panorama. The U.S. Home of Representatives handed President Donald Trump’s “Large Stunning 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 start out elevating electrical car 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 increase gross sales to the EU, UAE, and South Africa in 2026. To assist worldwide development, Mullen partnered with German agency FPF to make sure high-quality manufacturing earlier than coming into the U.S. market.
On June 25, Mullen revealed it will start accepting Bitcoin and TRUMP Coin for EV purchases, aiming to draw crypto-enthusiasts and politically engaged customers whereas boosting model publicity by means 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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