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      Why did Naked Brand Group Limited (NAKD) stock fall in Pre-Market today? - Stocks Telegraph

      By ST Staff

      Published on

      April 6, 2021

      11:51 AM UTC

      Why did Naked Brand Group Limited (NAKD) stock fall in Pre-Market today? - Stocks Telegraph

      Shares of Naked Brand Group Limited (NAKD) stock were down today in the Pre-Market trading session.NAKD stock price was down by 2.14% to drop at $0.68 a share as of this writing. It seems that NAKD is not performing well in recent times as it was down by 2.10% at the previous closing. Let’s try to understand the current scenarios of NAKD stock.

      What’s happening?

      Naked Brand Group Limited (NAKD) is the leading company in intimate apparel and sells its products in Australia, New Zealand, United States, and Europe through offline and online mediums. NAKD stock performed well in early 2021 but it seems that NAKD is again falling back to earth for the past couple of months. Currently, we find no specific news by the Naked Brand to justify this bearish sentiment. Furthermore, there are no signs of analysts downgrades or shrank targeted per share price of NAKD. A situation like this spreads confusion among investors as one group of investors thinks of it as the opportunity to buy while the other group shows reluctance to take any decision. So what you need to know at this time? Let’s look at the business development of NAKD stock.

      Business Development:

      On March 29, 2021, Naked stock announced that it had completed multiple strategic capital financing that resulted in the net proceeds of $270 million and weaned itself from debt obligations. Moreover, NAKD is in the final stages of getting shareholder approval for divestiture of its brick-and-mortar operations. Divestiture of Bendon Brick-and-Mortar operations is expected to be complete in the second quarter of 2021.

      Following the current scenarios, NAKD Management is focused on the advancement and expansion of  E-commerce business in order to meet the requirements of the digital world and making Naked Brand, a lead, in the intimate apparel market. Fortunately, Naked stock has a considerable amount in its balance sheet to support the development of Naked’s digital transformation.

      Conclusion:

      Things are gloomy for NAKD stock as far as market sentiment is concerned. The good part is that NAKD stock is free from debt and has sufficient capital for the growth of its eCommerce business. But there is a big question mark whether Naked’s efforts for its eCommerce business would prove to be fruitful or not as many big brands are still struggling due to great competition. Hence investors should consider all the pros and cons in addition to fundamental and technical analysis of Naked stock before taking any decision.

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