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Stock Alert: Net Element Up 27% As Mullen Plans To Deliver Li-S Battery Technology

Net Element, Inc. (NETE) shares are gaining more than 33 percent on Monday morning trade as Mullen Technologies and NexTech Batteries plan to deliver the most advanced lithium-sulfur battery technology.

Mullen Technologies, Inc., an electric vehicle company, had announced a definitive agreement in June to merge with Net Element, Inc. in a stock-for-stock reverse merger. In the post-merger, Mullen's stockholders will receive most of the outstanding stock.

Currently, shares of Net Element, the financial technology company, are trading at $11.30, up 27.11 percent from the previous close of $8.89 on 2,134,412. The shares have traded in a range of $1.47-$20.08, on average volume of 1,835,351 for the last 52-weeks.

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