In recent times, the Naked Brands Group (NASDAQ:NAKD) stock has garnered considerable attention from investors and that has resulted in a strong rally in the stock as well.
The company’s plan regarding its digital transformation has been one of the major catalysts behind the rally and it has seen the Naked Brands stock going past the 70 cents a share mark. However, that is not the only reason why there has been such a strong rally in the stock.
In recent days, the stock has become one of the favorites among retail investors on Reddit. These investors are known for short squeezes and have managed to send many penny stocks flying this year so far.
The Naked Brands stock had tanked sharply after hitting a high of $3.40 a share. In the middle of April, it sank to 50 cents a share but since then it has enjoyed a strong rally. Investors could consider putting the stock in their watch lists.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.