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NAKD - Naked Brand News Story

$0.54 0.0  2.7%

Last Trade - 07/05/21

Consumer Cyclicals
Small Cap
Market Cap £184.1m
Enterprise Value £207.7m
Revenue £43.0m
Position in Universe 4311th / 6858

BUZZ-Naked Brand raises $50 mln as shares skyrocket amid trading frenzy

Thu 28th January, 2021 1:50pm
** Naked Brand Group  NAKD.O  shares up more than 100%
premarket to around $3 after intimate apparel and swimwear firm
raises equity
    ** Co late Weds announced
 entered into securities purchase agreements with certain
institutional investors for sale of ~29.4 mln shares at $1.70,
for $50 mln gross raise
    ** On Weds, NAKD's stock soared 252% to $1.38 as it, along
with other cos such as Build-A-Bear Workshop  BBW.N , have seen
their shares surge amid social-media driven trading frenzy that
has forced hedge funds to cover short positions*:nL4N2K3389
    ** ~13% of NAKD's free float of shares were sold short as of
Jan 15, per Refinitiv data
    ** Last week, NAKD said it would undergo restructuring, shed
physical stores to focus on e-commerce operations*:nFWN2JW10O

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
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