The coronavirus pandemic had come as a major blow for intimate apparel retailer Naked Brand Inc (NASDAQ:NAKD).
Although the stock had performed poorly it had managed to deliver considerable gains at a different points for having been the target of retail investors from the Reddit community WallStreetBets.
Even though some investors may be bullish about the prospects of Naked Brands over the long term, it should be noted that back on April 29 the company had another setback.
The Listing Qualifications Department of NASDAQ sent a notification to the company specifying the fact that the stock had failed to maintain a minimum bid price of $1 for 30 straight trading days. At this point, the stock is trading at 58 cents a share. Although it is true that the company has until October 25 to regain compliance, it is something that is expected to be on the back of the minds of many investors.