Mullen Automotive (MULN) said Thursday it will implement a 1-for-60 reverse stock split to help bring the company into compliance with Nasdaq's $1 minimum bid price requirement for continued listing.
The electric vehicle manufacturer said it expects its shares to start trading on a split-adjusted basis Feb. 18.
The company's shares were down about 16% in recent trading.
Price: 0.25, Change: -0.05, Percent Change: -16.45
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