Naked Group Limited [NASDAQ: NAKD] is trading at a key support level and has the potential to test new highs short-term. This follows a recent announcement that the company had regained its listing in the NASDAQ. The Listing Qualification Department of the NASDAQ market has sent a letter to the Naked Brand group notifying them that they have regained compliance with the requirements limits of the market to continue listing on that market. Naked Brand, according to Nasdaq, now complies with Listing Rule 5550 (b). The rule requires that a company like Naked have $2.5 million as its minimum stockholder’s equity. This requirement is for companies that depend on equity standards to continue being listed. Naked complied with the Capital market listing requirements after completing transactions as prescribed on Form 6-K that it filed today with the SEC.
Anna Johnson, Naked’s Chief Executive Officer thanked the company’s investors for patiently waiting, as the company’s management team in collaboration with the board of directors worked tirelessly to ensure that Naked got back its compliance. She further reiterated that, with the matter of compliance now under the carpet, and having gotten back the listing, Naked will now direct its efforts towards growing the company and ensuring that the shareholders and investors get value for their investments.
The listing promises good returns for investors as Naked products will soon regain consumers’ confidence that it had lost a great deal. This listing also comes as an attraction to more investors whose investments will boost the growth of the company and help grow its brand. The extra investment will go a long way into revamping the company, acquiring new assets, and increasing production and as a result distribution. They are also set to significantly increase sales in the coming financial year and further strengthen their stock. There can only be good tidings going forward and increased returns, thus a good time for investors.
Who is Naked Brand Group Limited?
Naked Brand Group is a multinational company that deals with intimate clothing and swimming apparel with a range of portfolios. The company has a range of brands ran by smaller establishments with Naked being the mother company. As of the moment, the company has eight licensed brands that serve a wide range of markets and consumers. Naked controls and manages the entire process of designing, manufacturing, and distributing their apparel to their respective markets and consumers. Brands under this multinational include Bendon Man, Bendon, Fayreform, Hickory, Davenport, Lovable, Fredericks of Hollywood, and Pleasure State. These brands serve all genders across the world.