Things change quickly on Wall Street, don’t they? For quite a while, Naked Brand Group was known as an intimate apparel and swimwear retailer. Now Naked is no more, having given way to Cenntro Electric Group Limited (NASDAQ:CENN) stock.

Even before the onset of the Covid-19 pandemic, Naked Brand stock lost much of its value.

The pandemic only made matters worse for Naked Brand Group, it seemed, as shoppers apparently weren’t in the mood to buy naughty attire online. After a while, chatter started to emerge about Naked Brand eventually being delisted from the Nasdaq altogether.

Then, some startling changes happened – and maybe Naked Brand’s investors were thrown a lifeline. First, there was talk of a pivot to an ESG (environmental, social and governance)-focused business model.

The next thing you know, Naked Brand was transitioning toward commercial electric vehicle (EV) technology. Now, it’s not even correct to call the company Naked Brand Group anymore. There’s a lot to unpack here, obviously, so let’s start with the latest developments with the stock, which itself is undergoing a major change.

Say Good-Bye to NAKD Stock

Folks who held NAKD stock for the long term have had a rough ride, to say the least. The shares lost much of their value, and delisting concerns persisted.

In January of 2021, Reddit traders targeted Naked Brand for an epic short squeeze. However, that wasn’t enough to keep the share price afloat for the long term.

As meme-stock mania faded, NAKD stock sank below the crucial $1 level. There was chatter that the stock might get booted from the Nasdaq.

Now, if you look for Naked Brand on your broker’s platform, you won’t find it. Did the company get sent into exile?

Not at all. Even as NAKD stock disappears, its replacement represents a completely different, and hopefully more viable, business enterprise.

Disruptive, Indeed

Back in October of 2021, Naked Brand CEO Justin Davis-Rice teased a new direction for his company.

“I am happy to report that after extensive searching and due diligence, we believe we have found a disruptive opportunity in the clean technology sector,” the CEO stated.

While Davis-Rice didn’t disclose much in the way of details, he did reveal that the potential target company would be a “market leader” in ESG (environmental, social and governance) with “cutting edge patented proprietary technology.”

By this time, the company had already announced the divestiture of Naked Brand’s bricks-and-mortar Bendon operations.

The next thing you know, in early November, Naked Brand announced an agreement to acquire the outstanding stock shares of commercial electric vehicle (EV) technology company Cenntro Electric Group, previously known as Cenntro Automotive Group.

Say Hello to CENN 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.

Hence, we’re now bearing witness to the next chapter for this once embattled company. This is the end of Naked Brand and a new beginning as CENN stock. The company has guided for at least 20,000 vehicle deliveries in 2022.

It won’t necessarily be easy for Cenntro to achieve that goal, however. The company produced 628 electric commercial vehicles in December 2021 – a record for Cenntro – and a total of 1,623 during the full year of 2021.

Still, it’s encouraging to know that Cenntro finished fiscal 2021 with $250 million in cash and, importantly, no debt.

Moreover, Cenntro claims to have the financial strength to support the expansion of its European operating center in Dusseldorf, Germany, as well as its new assembly plant in Jacksonville, Florida.

The Bottom Line

Whereas Naked Brand Group was just trying to survive, Cenntro has international expansion plans and is fairly well-capitalized.

In other words, there’s hope on the horizon for CENN stock and its stakeholders. The Cenntro acquisition could mark a turning point, and an exciting new opportunity for EV-market investors.

With that, we can bid a not-so-fond farewell to NAKD stock and Naked Brand Group. You didn’t provide much in the way of profits, but at least you gave us some hard-learned lessons along the way.

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On the date of publication, David Moadel 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 InvestorPlace.com Publishing Guidelines.