NAKD Stock: Is the Naked Brand Reverse Stock Split Good or Bad? What Investors Are Saying

Naked Brand (NASDAQ:NAKD) stock is in the news today as investors react to the company’s reverse stock split for Tuesday.

Lingerie on a pink background representing NAKD stock.

Source: NazarBazar/

That reverse stock split saw the company consolidate 15 shares of NAKD stock down to one share. The goal of the split is to get its share price up to where it needs to be for the Cenntro Automotive merger.

A recent shareholder meeting saw investors in NAKD stock vote in favor of the split and the merger. If all goes well, Naked Brand is expecting the deal to close before the end of the year.

Let’s dive into what traders are saying about the reverse stock split below!

NAKD Stock Reverse Split Talk

While investors approved the NADK stock reverse split, it isn’t performing so well now that normal trading hours are underway. Currently, the stock is sitting 17.1% lower than the $7.23 it was boosted to by the reverse split.

While NAKD stock is slipping today, it’s possible we could see shares rise higher in the coming days. That would be especially possible if it announces the close of its merger with Cenntro Automotive before the year closes out. As such, expect volatility from NAKD in the coming days as investors prepare for that announcement.

Investors seeking other stock market news today are in luck!

There’s plenty to talk about besides NAKD stock and we’ve got it all in one place! A few examples of that include this morning’s biggest pre-market stock movers, what happened with Cassava (NASDAQ:SAVA) shares yesterday, as well as the latest news on Bakkt (NYSE:BKKT) stock. You can find all of that info at the following links!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC