Intimate apparel company Naked Brand Group Ltd (NASDAQ: NAKD), which has now become a major player globally, was in focus among investors yesterday following a recent development.
Back on Tuesday, it emerged that the company received a notification from NASDAQ Stock Market which indicated that the Naked Brands stock managed to regain compliance. The stock regained compliance with regards to the minimum bid price requirement of $1 for the exchange. It is a significant development for the company since it means that Naked Brands is going to continue to be listed on NASDAQ for the foreseeable future. The company had been notified of the compliance issues back in March last year.
However, in this regard, it should be noted that the exchange had continued to extend the period within which Naked Brands could regain compliance. The latest deadline had been set for May 24, 2021. It remains to be seen if the Naked Brands stock gets a major bump from investors due to this development over the coming days.