Home Top Movers Naked Brand Group Ltd (NAKD) group surged in after-hours without any clue

Naked Brand Group Ltd (NAKD) group surged in after-hours without any clue

Naked Brand Group Limited (NAKD) shares gained 11.11% to trade at $0.7 in after-market on Thursday, April 29, 2021. Earlier, NAKD’s stock lost 1.90% to close Thursday’s session at $0.63. NAKD shares have declined 13.69% over the last 12 months, and they have moved up by 15.81% in the past week. Over the past three months, the stock has lost 54.68%, while over the past six months, it has surged 584.78%.

Let’s see is there any reason behind its gain in the after-market session on Thursday?


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Non-Compliance notice from Nasdaq

On April 29, 2021, Naked Brand Group was notified by the Listing Qualifications Department of The Nasdaq Capital Market that the company did not meet the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2).

Read More

NAKD minimum bid price for its ordinary shares was below $1.00 per share for a period of 30 consecutive business days.

There will be no effect at this time on the listing of the Company’s ordinary shares, and the shares will continue to trade uninterrupted under the symbol NAKD.

The Company can regain compliance with the minimum bid price requirement, within 180 calendar days.

Preliminary results of the extraordinary general meeting

On April 23, 2021, Naked Brand Group announced that shareholders voted to approve the Company’s proposed divestiture of its Bendon brick-and-mortar operations, in a shareholders meeting held on Friday, April 23, 2021.

It is now expected that the company will sign the definitive agreement for the proposed divestiture and simultaneously close the transaction on or about Friday, April 30, 2021.

New Chief Financial Officer appointment

On April 19, 2021, Naked Brand Group Limited appointed Mark Ziirsen to the position of Chief Financial Officer, replacing Cheryl Durose.

Business update on company’s transformation

On March 29, 2021, Naked Brand Group Limited said that it has improved its balance sheet with the completion of multiple strategic capital financings which provided cash proceeds of $270 million and eliminated all previous debt servicing obligations.

The company also said that it is working on the digital transformation to build out proprietary technology to meet the needs of consumers in today’s digital world. 

$100 Million private placement agreement

On February 25, 2021, Naked Brand Group Limited signed a definitive agreement for a private placement of restricted ordinary shares and warrants.

The company will get gross proceeds of approximately $100 million will be used to develop the Company’s technology solutions, increase its existing digital footprint and it will accelerate its transition to a pure-play e-commerce platform business.

The ordinary shares will have a share price of $0. 93. The warrants will have an exercise price of $1.13 per share and will expire five years from the date of issuance.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

Despite a non-compliance notice from Nasdaq, NAKD stock turnaround on Thursday and surged in the after-hours which does not make any sense. The company is in a transition process after declining rapidly during the Covid-19 pandemic. It is hard to predict how NAKD will perform in the coming days.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Tonix Pharmaceutics Holdings Inc. (TNXP) stock gains during current market. What’s driving it high?

Tonix Pharmaceuticals Holdings Inc. (TNXP) stock gains by 2.81% in the current market trading session. Tonix is a clinical-stage biopharmaceutical business dedicated on finding,...

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

Related News

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

F5 Networks Inc. (FFIV) stock soars during pre-market trading. Here’s to know why?

F5 Networks Inc. (FFIV) stock gained by 0.23% at the last close while the FFIV stock surged by 6.05% in the pre-market trading session....

Here is why Cerecor Inc. (CERC) stock turnaround in the after-hours on Monday?

Cerecor Inc. (CERC) shares gained 12.23% in after-hours on Monday, July 26, 2021, and closed the trading at $3.12. in the regular trading session,...

Here is why Bit Digital Inc. (BTBT) stock skyrocketed on Monday?

Bit Digital Inc. (BTBT) shares declined 10.94% in after-hours on Monday, July 26, 2021, and closed the day at $7.90. Earlier in the regular...

Why did Protagenic Therapeutics Inc. (PTIX) stock commence the new week with a negative trend?

Protagenic Therapeutics Inc. (PTIX) shares declined 13.82% in the pre-market on Monday, July 26, 2021, as of this writing. In after-hours on Friday, Protagenic...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam