Manufacturing electric trucks became very vital even though demand for them isn’t huge as compared to light electric vehicles. Today Mullen’s subsidiary Bollinger and Wabash announce a partnership to build a refrigerated delivery electric truck. This news had to push Nasdaq: MULN up by at least 10% but external factors in the form of monetary policy pulled it down by 5%.
Fed increases interest rates to control inflation which was caused by stimulus checks to support the overall economy during the covid lockdown. Right now, the fed is collecting printed dollars for U.S banks while the bond market is flourishing.
That’s why nobody is buying shares even though great news passes by.