Shares of Mullen Automotive Inc. bounced Wednesday, after the electric-vehicle maker said he retained a law firm to help him combat illegal naked short-selling activities.
The stock MULN,
bounced 2.9% in morning trading, after falling 6.3% on Monday to close at a record low of 10.1 cents. It suffered a record 85.2% monthly plunge in June, even after the company reported last week that it recorded revenue for the first time and that it was in the “best financial position” in its history.
On Wednesday, the Brea, Calif.-based company said it retained Christian Attar, formally known as Christian Levine