NAKD stock is rising after the company's annual shareholder meeting. Investors have been waiting for an announcement on a possible acquisition, and during the event, Naked said it had identified a target. Article continues below advertisement “We have recently reached preliminary agreement on non-binding terms and are now conducting due diligence.
Full Answer
Will Nakd stock rise more or fall now?
Many investors wonder why NAKD stock is going up and whether it will rise more or fall now. Meme stocks have seen a boom-bust cycle in 2021. Naked Brands made a 52-week high of $3.40, but it's currently down over 82 percent from the peaks.
How much is a Nakd stock worth?
One share of NAKD stock can currently be purchased for approximately $2.61. How much money does Naked Brand Group make? Naked Brand Group has a market capitalization of $157.82 million and generates $52.49 million in revenue each year.
How much has Naked brand group's (Nakd) stock increased since June 14th?
Since then, NAKD shares have increased by 455.3% and is now trading at $2.61. View which stocks have been most impacted by COVID-19. How were Naked Brand Group's earnings last quarter? Naked Brand Group Limited (NASDAQ:NAKD) released its earnings results on Wednesday, June, 14th. The company reported ($0.35) earnings per share for the quarter.
Will naked brands (Nakd) stock get a short squeeze?
According to the data from Fintel, NAKD stock had a short volume ratio of 36 percent on July 20, which was up almost 10 percentage points over the previous day. The short volumes look juicy enough to trigger a short squeeze. That said, we’ll need some positive news flow to stimulate the buying in Naked Brands stock.
Why did NAKD stock rise today?
Shares of Naked Brand Group (NASDAQ:NAKD) stock are up more than 20% in morning trading after the swimwear and lingerie company announced an unexpected and surprising merger. Overnight, Naked Brand announced that it is merging with an early stage, privately held electric vehicle company called Cenntro Automotive.
What is going on with NAKD?
NAKD Stock Down on Closing of EV-Related Acquisition Today, Naked Brand announced the closing of its acquisition of EV startup Cenntro Automotive. This deal leaves the combined company with $250 million in cash on the balance sheet, and provides a strong growth runway for those bullish on the EV sector.
Is NAKD expected to go up?
Analysts predict the NAKD Stock price for the next 12 months with a higher price of $6.32 and lower price of $3.3.
Is NAKD a good stock to buy?
It has been an extraordinary year, and to be fair, still a profitable one: NAKD stock has still gained 74% so far in 2021. 2022 should be quieter, at least on a relative basis, as Naked becomes Cenntro Automotive.
Will NAKD stock recover?
The retail trading frenzy breathed new life into Australian undergarment company Naked Brands International (NASDAQ:NAKD). NAKD stock was popular among meme stock traders, which drove its price higher earlier this year.
Is NAKD going out of business?
Pending shareholder approval at a special meeting on Dec. 21, Naked Brands will merge with Cenntro Automotic Group, an electric vehicle (EV) technology firm. The new company will go forward under the Cenntro name, albeit with the NAKD stock symbol. Upon finalization, Naked Brands will cease to exist.
What will happen to NAKD stock after merger?
Per the terms of the merger, existing NAKD shareholders will own 30% of the combined company. Cenntro's existing investors will hold the other 70%. That gives this deal an implied valuation of about $1.7 billion.
Is NAKD stock a buy or sell?
Barchart OpinionComposite IndicatorTrendSpotterSell50 - Day Average Volume: 5,490,481Average: 100% SellLong Term Indicators100 Day Moving AverageSell15 more rows•Jan 13, 2022
Will NAKD reverse stock split?
Naked Brand Group Limited (NAKD) will effect a 1-for-15 (1-15) reverse split of its Ordinary Shares. The reverse stock split will become effective on Wednesday, December 22, 2021.
Why was NAKD stock so high?
A 1-for-15 reverse stock split is to blame for NAKD stock's seemingly outlandish returns today. The reverse split became effective as of this morning, which means that for every 15 shares of NAKD stock investors owned as of yesterday's close, they now own 1 share. Consequently, the price of the stock increased by 15X.
Is NAKD heavily shorted?
The company's short volume ratio of 33% suggests there's room for a squeeze. Indeed, this is one of the most highly shorted stocks on the market. Combine this fact with the reality that NAKD stock is a penny-stock play, and investors can see dollar signs in a squeeze-like scenario.
How were Naked Brand Group's earnings last quarter?
Naked Brand Group Limited (NASDAQ:NAKD) announced its earnings results on Wednesday, June, 14th. The company reported ($0.35) earnings per share fo...
Who are Naked Brand Group's key executives?
Naked Brand Group's management team includes the following people: Peter Zuguang Wang , Chairman, Chief Executive Officer & MD Edmond Cheng , Ch...
Who are some of Naked Brand Group's key competitors?
Some companies that are related to Naked Brand Group include Cintas (CTAS) , V.F. (VFC) , Ralph Lauren (RL) , PVH (PVH) , Kontoor Brands (KTB)...
What other stocks do shareholders of Naked Brand Group own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Naked Brand Group investors own include Ocugen (OCGN) , G...
What is Naked Brand Group's stock symbol?
Naked Brand Group trades on the NASDAQ under the ticker symbol "NAKD."
Who are Naked Brand Group's major shareholders?
Naked Brand Group's stock is owned by a number of institutional and retail investors. Top institutional investors include Simplex Trading LLC (0.00...
Which institutional investors are buying Naked Brand Group stock?
NAKD stock was bought by a variety of institutional investors in the last quarter, including Simplex Trading LLC, Jane Street Group LLC, Group One...
How much money does Naked Brand Group make?
Naked Brand Group has a market capitalization of $0.00 and generates $52.49 million in revenue each year.
How many employees does Naked Brand Group have?
Naked Brand Group employs 337 workers across the globe.
About Naked Brand Group
Cenntro Electric Group Ltd. is an EV technology company that designs and manufactures electric light and medium duty commercial vehicles. The company's ECVs are designed to serve a variety of corporate and governmental organizations in support of city services, last-mile delivery and other commercial applications.
Naked Brand Group (NASDAQ:NAKD) Frequently Asked Questions
Naked Brand Group Limited (NASDAQ:NAKD) posted its earnings results on Wednesday, June, 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business earned $0.46 million during the quarter. View Naked Brand Group's earnings history.
Meme stocks
Like NAKD, GameStop and AMC Entertainment were targeted by WallStreetBets. GME stock has been hovering around $150 and AMC has been in the $30s. Most meme names went overboard with selling shares amid the Reddit frenzy, and NAKD stock is no exception.
Why is NAKD stock going up?
NAKD stock is rising after the company's annual shareholder meeting. Investors have been waiting for an announcement on a possible acquisition, and during the event, Naked said it had identified a target.
Naked Brands' stock forecast
The forecast for Naked Brands stock looks positive, and the stock looks like a good play based on its potential acquisitions and pivot to e-commerce. The stock could react positively once the company reveals more details about its acquisition. NAKD investors' patience is likely to pay off.
NAKD stock's short squeeze
NAKD's short volumes look high. On Jul. 30, 5.7 percent of Naked Brands’ float was shorted, and according Fintel, NAKD had a FINRA short volume ratio of almost 54 percent on Aug 19. An update on its acquisition could just be what NAKD stock bulls are waiting for to trigger a short squeeze.
What brands does Heidi Klum sell?
The newly formed company now boasts brands that include Heidi Klum Intimates, Bendon, Fayreform, Pleasure State, Lovable, Heidi Klum Swim, Naked, Hickory, Bendon Man, and Davenport. The company claims that its products are currently available at retail locations in 44 countries and online. Holdco's offerings will also be sold at 61 Bendon retail ...
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What happened
Shares of Cenntro Electric Group ( NAKD ), the company formerly known as Naked Brand, were trading lower on Thursday. The former meme stock has been moving steadily lower since mid-November, shortly after Naked Brand -- at the time still a struggling lingerie maker -- announced that it would merge with electric-vehicle maker Cenntro.
So what
Cenntro's story is an interesting one. The company is the result of a merger between a small privately held maker of electric commercial vehicles (Cenntro) and a publicly traded maker of lingerie and swimwear (Naked Brand) that became a hot meme stock early last year.
NASDAQ: NAKD
Cenntro Electric makes a variety of small battery-electric commercial vehicles. Image source: Cenntro Electric Group.
Now what
It's not clear what's next for the postmerger Cenntro.
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Why NAKD stock is going up
NAKD stock rose sharply on July 20 but was trading lower in the premarket on July 21. The rise was due to buying interest from traders on social media platforms. There was a successful short squeeze in Naked Brands stock earlier in 2021 and traders on social media platforms want another squeeze now.
Is another short squeeze coming in NAKD stock?
According to the data from Fintel, NAKD stock had a short volume ratio of 36 percent on July 20, which was up almost 10 percentage points over the previous day. The short volumes look juicy enough to trigger a short squeeze. That said, we’ll need some positive news flow to stimulate the buying in Naked Brands stock.
Naked Brands stock forecast on Reddit
Currently, NAKD stock isn't very popular on Reddit group WallStreetBets. However, there's a subreddit r/NAKDstock to discuss the stock. Like other meme stocks, the members of the community are talking about taking the stock to the moon. A post on the group talked about the increase in short volumes in Naked Brands.
Naked stock looks like a good buy
Sentiments can drive a stock's short-term price action. However, in the medium to long term, stocks trade based on their fundamentals. Looking at Naked Brands, like all meme stocks, it went overboard selling its shares as the stock rose. The company has $270 million in cash and no debt.
Will NAKD stock rise more?
After adjusting for $270 million cash, we get an enterprise value of around $272 million for Naked Brands. The company doesn’t generate much revenue right now. However, the sales and profitability should grow as it ramps up its e-commerce operations. Like all penny names, NAKD is a risky bet.
Will Naked Brands stock do a reverse stock split?
Naked Brands stock trades below $1 and if it continues to do so the company will have to go for a reverse stock split to meet the minimum listing requirements. While a reverse stock split doesn't change anything fundamentally for the stock—just like a split—stocks tend to fall on the news of a reverse stock split.