Let’s not mince words. Probably the only people who miss the “good old days” of NAKD stock are the short sellers. Thankfully, Naked Brand Group transitioned into Cenntro Electric Group (NASDAQ:CENN) and NAKD has been replaced with CENN stock.
Just to recap, Naked Brand Group was the ill-fated purveyor of lingerie and swimwear online. E-commerce is hot, sure, but Naked Brand Group wasn’t ever much of a revenue generator.
Today, after the change-over to CENN stock, investors can accumulate easily affordable shares of an up-and-coming electric vehicle (EV) manufacturer. As we’ll discover in a moment, this stock is super-cheap.
Don’t just starting buying Cenntro shares just because of the low price point, though. Be sure to learn as much about the company as you can, and see what sets Cenntro Electric apart from the slew of EV makers out there.
A Closer Look at CENN Stock
First and foremost, I must issue a warning. Some investors were understandably worried about NAKD stock, as the Nasdaq exchange has been known to sometimes delist stocks if they stay under $1 for too long.
So, now let me tell you the situation with CENN stock. Like its predecessor NAKD, it is fairly close to $1 and that could be a precarious situation.
After all, what company wants its shares to be kicked off of the Nasdaq? The next step, after that, would probably be a listing on a less prestigious over-the-counter exchange.
As of early March 2022, CENN stock traded at approximately $1.30. Hopefully, the stock won’t drop below $1 and raise the possibility of a delisting threat.
On the bright side, Reddit traders are known for targeting cheap stocks for an epic short squeeze. Could Cenntro Electric be on their watch list?
It’s fun to consider the possibility of a short squeeze, but we can’t count on this happening. Instead, it makes more sense to own CENN stock only if you’re on board with Cenntro’s ambitious EV-market vision.
No Ordinary EV Maker
As an informed investor, you have every right to wonder what makes Cenntro Electric different from the many other EV manufacturers on the market.
To begin, it’s worth noting that Cenntro is a road-tested company, so to speak. The company’s stats back up this point:
3,600+ vehicles delivered
Over 20 million miles traveled
- Over 238 patents granted
- Certified in 32+ countries, and shipping out to 16+ countries
- At least six assembly plants
Furthermore, Cenntro is a pioneer in commercial automotive electrification with its iChassis, which has iPhone-like functions to enable autonomous driving.
The Cenntro iChassis enables different apps for smart driving – a feature that other EV makers might copy, but Cenntro is proving itself as an innovator.
Consider the Possibilities
Earlier this year, Cenntro unveiled its iChassis autonomous driving vehicle at an event called CES 2022.
As the company explains, “The iChassis is operated by Cenntro’s Smart App, a fully digitalized proprietary driving control system, powered by chips developed by Cenntro.” Moreover, “Cenntro’s Smart App can integrate with operating systems from Tier One OS providers.”
It’s a huge advantage to have the chips manufactured in-house. Taking control of the supply chain is a bright idea in a time when shortages are a global problem for tech businesses.
Note that the featured iChassis autonomous driving vehicle isn’t a regular passenger car. Rather, it’s a last-mile delivery vehicle – but it still looks pretty awesome.
iChassis production, according to the company, is set to commence by 2023’s first quarter.
When that happens, the world will see how the driving control system can integrates with third-party apps for a variety of uses: package delivery, city surveillance, mobile vending machine and delivery, rescue services, city sanitation – just consider the possibilities.
The Bottom Line
If you don’t miss Naked Brand Group, that’s perfectly fine. That company’s business model was questionable, anyway.
Today, you can buy cheap shares of CENN stock and invest in an EV manufacturer that also has an intriguing driving control system. This invention could revolutionize the smart EV market in the 2020s.
Just be sure to watch the share price closely, as we don’t want to see it go below $1 and stay there. Like Naked Brand Group, Cenntro Electric certainly doesn’t want to get a stern letter from the Nasdaq exchange.
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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.