Nio incorporated Secures $2.2 Billion Investment Deal with CYVN Holdings, Mullen Automotive incorporated Executes Third Reverse Stock Split, United States Government Considers Increasing Tariffs on Chinese Goods\n\nNio incorporated (NYSE:NIO) has announced a new investment deal with Abu Dhabi-based CYVN Holdings worth $2.2 billion, making CYNV the company’s largest individual shareholder with a 20.1% ownership stake. This deal is expected to be finalized next week and will allow CYNV to nominate two directors to NIO’s board. Analysts at Deutsche Bank have noted that this investment will eliminate the near-term overhang around NIO’s capital runway, securing financial stability for the company until 2025. Shares of NIO ended the week up 0.94%, reaching a weekly high of $8.87sh on Tuesday.\n\nMichigan-based Mullen Automotive Inc (NASDAQ:MULN) executed a 1-for-100 reverse stock split this week in an attempt to maintain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. This is the third reverse split for MULN this year, with the company previously enacting a 1-for-25 and 1-for-9 reverse split. If MULN fails to meet the minimum criteria and is delisted from Nasdaq, there could be negative consequences for the company, including less liquidity and difficulty obtaining funding. Shareholders are also concerned about Mullen’s plans to raise capital next year, as past capital raises have involved diluting shareholders. News of the planned fundraiser caused MULN to hit a new low of 8.33 cents on Wednesday. Shares of MULN ended the week down 29.46% to $9.84sh.\n\nThe United States government is reportedly discussing the possibility of increasing tariffs on some Chinese goods, including electric vehicles. Chinese vehicles currently face a 25% tariff when entering the United States, and the Biden administration is considering a reduction in the tariff rate, but not a complete removal. The United States government plans to finalize a thorough review of these tariffs in early 2024.\n\nNio incorporated has secured a significant investment deal with CYVN Holdings, providing financial stability for the company until 2025. Mullen Automotive Inc has executed its third reverse stock split this year in an attempt to maintain compliance with Nasdaq’s minimum bid price requirement, causing concern for shareholders.
“Nio incorporated Secures $2.2 Billion Investment Deal with CYVN Holdings, Mullen Automotive incorporated Executes Third Reverse Stock Split, United States Government Considers Increasing Tariffs on Chinese Goods\n\nNio incorporated (NYSE:NIO) has announced a new investment deal with Abu Dhabi-based CYVN Holdings worth $2.2 billion, making CYNV the company’s largest individual shareholder with a 20.1% ownership stake. This deal is expected to be finalized next week and will allow CYNV to nominate two directors to NIO’s board. Analysts at Deutsche Bank have noted that this investment will eliminate the near-term overhang around NIO’s capital runway, securing financial stability for the company until 2025. Shares of NIO ended the week up 0.94%, reaching a weekly high of $8.87sh on Tuesday.\n\nMichigan-based Mullen Automotive Inc (NASDAQ:MULN) executed a 1-for-100 reverse stock split this week in an attempt to maintain compliance with Nasdaq’s minimum bid price requirement of $1.00 per share. This is the third reverse split for MULN this year, with the company previously enacting a 1-for-25 and 1-for-9 reverse split. If MULN fails to meet the minimum criteria and is delisted from Nasdaq, there could be negative consequences for the company, including less liquidity and difficulty obtaining funding. Shareholders are also concerned about Mullen’s plans to raise capital next year, as past capital raises have involved diluting shareholders. News of the planned fundraiser caused MULN to hit a new low of 8.33 cents on Wednesday. Shares of MULN ended the week down 29.46% to $9.84sh.\n\nThe United States government is reportedly discussing the possibility of increasing tariffs on some Chinese goods, including electric vehicles. Chinese vehicles currently face a 25% tariff when entering the United States, and the Biden administration is considering a reduction in the tariff rate, but not a complete removal. The United States government plans to finalize a thorough review of these tariffs in early 2024.\n\nNio incorporated has secured a significant investment deal with CYVN Holdings, providing financial stability for the company until 2025. Mullen Automotive Inc has executed its third reverse stock split this year in an attempt to maintain compliance with Nasdaq’s minimum bid price requirement, causing concern for shareholders.”$MULN2023-12-27T18:50:20.303Z