Market Surge: Mullen Gains Momentum, Pfizer's Investment Fuels Caribou Biosciences
- July 06th, 2023
- 504 views
Shares of Mullen Automotive, Inc. (Nasdaq: MULN) surged over 60% in pre-market trading after the company announced a $25 million stock buyback program authorized through December 31, 2023.
Mullen believes that its stock is significantly undervalued and trading at a substantial discount compared to its cash position of approximately $235 million.
In pre-market, $MULN is trading at $0.27, reflecting a notable increase of $0.10 (63.25%) following the announcement.
In other news, Caribou Biosciences, Inc. (Nasdaq: CRBU) has announced that Pfizer Inc. (NYSE: PFE) has invested $25 million in the company, purchasing 4,690,431 of its common shares at a price of $5.33 per share.
Caribou views Pfizer's investment as a validation of the potential of its clinical programs.
$CRBU is currently trading at $5.58 in pre-market, up $1.50 (36.76%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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