Mullen Automotive Stock Soars 261%

(RTTNews) - Mullen Automotive, Inc. (MULN) surged 261.97 percent to $19.51 on Wednesday, even though no new company-specific news was released to explain the dramatic price movement. The stock jumped $11.71 from its previous close of $5.39.

Shares opened at $5.63 and spiked to an intraday high of $19.68 before pulling back slightly on the Nasdaq. The day's trading range was $5.10 to $19.68, with volume reaching 15.5 million shares, significantly higher than the average daily volume of around 230,000.

Despite today's rally, the stock remains volatile, trading within a 52-week range of $4.80 to an anomalous high of $223.2 million.