Naked Brand (NASDAQ:NAKD) Stock Fails To Sustain At Higher Level: What to do Now?
Retail company Naked Brand (NASDAQ:NAKD) can boast of being a stock being 250% even if it is down by 80%afrom the year’s high. NAKD stock has been having issues since Amazon made its world topsy-turvy. The pandemic has also
The pandemic crippled almost all businesses as the government is putting in lot of money to fix it. However, things are normalising and vaccines are also facilitating the way forward. The company shares had issues even before covid came in as it plummeted a month before S&P’s fall.
The firm’s shares have a lot of zing, as has been demonstrated by the plethora of super-spikes in last few years. However, it didn’t last too long and its stock hit a new low. The stock seems broken as per its chart for the long term.
Financial results of the firm have also been murky with revenues declining in 2019 vis-à-vis previous year due to disruption. According to analysts, the stock may not be worthy of investments and it is not seen on any improvement in situation sometime soon. It is believed that traders can trade the price action currently. The concerns of NAKD stock hitting bottom is extremely likely as the firm has been witnessing higher-lows since the April bottom.
Market Reaction:
On Wednesday, NAKD stock fell 3.32% at $0.59 with more than 35.91 million shares, compared to its average volume of 94.47 million shares. The stock had moved within a range of $0.5600 – 0.6100 after opening the trade at $0.6052. Over the past 52-week, the stock has been trading within a range of $0.0661 – 3.4000.
