NAKD stock is dropping despite no company-specific news or analyst downgrades. The significant fall in the stock could be because the Reddit-driven short squeeze is losing steam. A WallStreetBets-fueled short squeeze boosted NAKD significantly at the end of January 2021, which pushed it to a 52-week high of $3.40 per share.
Full Answer
Is naked Brands stock still a buy after its 52-week high?
Naked Brands made a 52-week high of $3.40, but it's currently down over 82 percent from the peaks. There have been varying drawdowns in other meme stocks as well. 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.
Did naked Brand Group's stock split change after Dec 21?
However, an update from Dec. 21 should probably be looked at more closely. Before trading started on Wednesday, Naked Brand group announced it had completed a 1-for-15 stock split. Stock splits change the number of shares outstanding, but they don't actually change the percentage of a company that shareholders own.
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.
What is naked Brand Group's (Nakd) stock symbol?
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?
What happened to NAKD brand stock?
On the last day of 2021, Naked Brand Group completed its acquisition of Cenntro. In connection with the completion of the acquisition, the company officially changed its name to Cenntro Electric Group Limited, and took over the ticker CENN stock.
Why did NAKD stock go down?
The company's stock has plummeted because of collapsing sales, mounting losses, and obscene levels of stock dilution following new share offerings being used to raise funds and keep the company afloat.
Is NAKD stock expected to rise?
Analysts predict the NAKD Stock price for the next 12 months with a higher price of $6.32 and lower price of $3.3.
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.
Who owns NAKD stock?
Institutional Ownership and Shareholders These institutions hold a total of 1,325 shares. Largest shareholders include Deutsche Bank Ag\, N.E.W. Advisory Services LLC, and Cwm, Llc.
What is the future for NAKD?
By December 2025, it states the NAKD stock price could be closing at $3.34. Furthermore, it forecasts that the NAKD stock price could drop down even lower by December 2026 and be in the range of $1.89 to $2.95.
What is prediction for NAKD?
NakedBrand target prediction for 28 Fri January 2022 are 9.36, 7.83, 6.3 on the upside, and N/A, 0.13, 1.66 on the downside. NakedBrand trend for this month is negative, which means NakedBrand target predictions on downside have a better chance.
Is NAKD being shorted?
Short interest is the volume of Naked Brand Group shares that have been sold short but have not yet been closed out or covered. As of December 31st, investors have sold 2,020,000 shares of NAKD short. 3.34% of Naked Brand Group's shares are currently sold short. Learn More on Naked Brand Group's current short interest.
How were Naked Brand Group's earnings last quarter?
Naked Brand Group Limited (NASDAQ:NAKD) posted its quarterly earnings results on Wednesday, June, 14th. The company reported ($0.35) EPS for the qu...
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 retail and institutional investors. Top institutional shareholders include Simplex Trading LLC (0...
Which major 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 (NASDAQ:NAKD) 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.
Is naked brand stock weak?
Naked Brand’s financials look weak. In fiscal 2020, the company’s net sales decreased by 20 percent YoY to $58.5 million. Additionally, the stock faces the threat of being delisted from Nasdaq.
Is NAKD a penny stock?
Since NAKD is a penny stock, none of the Wall Street analysts cover the stock right now. Naked Brand has a lot of room to grow. The global intimate wear market is forecast to reach $325 billion by 2025 compared to $176 billion in 2017.
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.
The last two days have been busy for Naked Brand Group. Today's decline is really just a technical issue. But there's a bigger story here
Reuben Gregg Brewer believes dividends are a window into a company's soul. He tries to invest in good souls.
What happened
Shares of Naked Brand Group ( NASDAQ:NAKD), which is an online retailer of intimate apparel, fell sharply at the open of trading on Dec. 22. The drop was just shy of 19% at one point in the first half hour of trading, but by 10 a.m. ET had settled at around 12.5%.
So what
Before trading started on Wednesday, Naked Brand group announced it had completed a 1-for-15 stock split. Stock splits change the number of shares outstanding, but they don't actually change the percentage of a company that shareholders own.
Now what
Longer-term, investors need to think about the Cenntro merger, which will completely change the company.
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.
The company's transition to an e-commerce pure-play took a major step forward
Joe honed his investing skills as an analyst for Stock Advisor. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns.
What happened
Naked Brand Group 's ( NASDAQ:NAKD) stock price climbed 4.8% on Friday after the swimwear and intimate apparel maker said its shareholders voted to approve the sale of its traditional retail business.
So what
Naked Brand Group will now divest its unprofitable Bendon brick-and-mortar operations and focus solely on its e-commerce platform. CEO Justin Davis-Rice said the company would also consider purchasing other businesses to bolster Naked's online growth initiatives.
Now what
Management believes this cash will generate better returns for shareholders in the potentially higher-margin e-commerce sector than the company has been able to achieve in its money-losing retail business. Time will tell if that's the case, though Davis-Rice certainly appears optimistic about Naked Brand Group's future.
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.