Stocks In The Move: MULN, HYLN, KAVL
2:43 pm Thursday, August 25th, 2022
Mullen Automotive (NASDAQ:MULN) stock is moving on Thursday as investors react to a partnership with Team Rosberg Engineering. This agreement will see the two companies working together on vehicle chassis and safety development as part of the Mullen FIVE EV Crossover Program. TRE is highly specialized in chassis development and was founded in 1997 by Formula 1 world champion Keke Rosberg.
Hyliion (NYSE:HYLN) stock is up more than 3% today after purchasing a “hydrogen and fuel agnostic capable generator” from General Electric (NYSE:GE). The company estimates the KARNO generator to be 20% more efficient than competitors. This morning, Hyliion announced its acquisition of the KARNO generator, a product of 3D printing thermal components for fuel to electricity conversion. The device will be compatible with more than 20 types of fuel, including hydrogen, with greatly improved emissions efficiency.
It’s been a legal rollercoaster ride for Kaival Brands (NASDAQ:KAVL) lately. Earlier, the U.S. Food and Drug Administration (FDA) rejected Premarket Tobacco Product Applications for the non-tobacco flavored BIDI Sticks, of which Kaival Brands is the exclusive U.S. distributor. However, today it was announced that an appeals court overturned the FDA’s ruling. Consequently, KAVL stock pushed 20% higher this morning.
