Mullen Automotive Stock Rises After Electric Last Mile Bankruptcy Deal

The shares of Mullen Automotive Inc. electric vehicle startups rose after the company said it had received court approval to build an Indiana factory and other assets of the now-defunct Electric Last Mile Solutions Inc. to buy for $92 million.

Mullen shares, which are down about 93% so far this year, were up 64% in trading on Wednesday to 36 cents. Electric Last Mile has put its assets up for sale after closing its business and filing for bankruptcy in June.

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