12:04 PM EST, 02/13/2025 (MT Newswires) -- 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