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NAKD Stock: Naked Brands Looks Primed For a Rally
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Castor Maritime (NASDAQ:
CTRM), which used the gullibility of small investors to buy cargo ships. Stocks with tiny market caps are easy to manipulate. All it takes is a story.
Our Matt McCall surmises that Naked Brands became attractive simply because of its ticker symbol, NAKD. It’s the kind of thing middle-school boys will snigger about in hallways, and many WallStreetBets players are no smarter.
But much like
AMC Entertainment (NYSE:
AMC), which used its short squeeze to recapitalize with stock, Naked Brands management seized its 15 minutes of fame. They sold stock to put over $200 million on the balance sheet. They are dumping Bendon, the store chain that had been behind the company in the first place. Now they claim to be an e-commerce play with cash on the balance sheet, hungry for acquisitions. That’s why the shares aren’t back down to 22 cents.
NAKD Stock: A Day Trader’s Dream and Value Investor’s Nightmare InvestorPlace 5/4/2021
Naked Brand (NASDAQ: © Provided by InvestorPlace a man and woman wear plain white underclothes from Naked Brand (NAKD)
If you ever needed to understand just how powerful the average retail investor has become, look no further than this embattled intimate apparel company.
Before this rally, the company seemed on a straight path to bankruptcy. However, Redditors have miraculously brought it back to life and pushed NAKD stock to dizzying heights.
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At the same time, the price movement has confounded value investors.
Every time it seems Naked Brand is down for the count, a press release turns its fortunes around, making sure every analyst or value investor worth his or her salt knows who’s in charge of the markets these days.
Naked Brand Group LTD. (NASDAQ:NAKD) moved higher Friday, likely after shareholders voted for approval of the proposed transaction to divest its Bendon brand brick-and-mortar operations. Another recent development from the company includes an appointment of a new chief financial officer, Mark Ziirsen, as of April 19, 2021.
Naked Brand Daily Chart Analysis
Naked Brand stock looks to be testing a key level where it has previously held as resistance. The stock has been forming higher lows throughout the past six months.
The stock is trading below the 50-day moving average (green) and above the 200-day moving average (blue), indicating the stock is most likely facing a period of consolidation.
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