/biz/ - Business & Finance

>>26970659
>>26976158
>>26976463
NAKD jumped right after open, then dropped due to 2 reasons:
1 the Robinhood lockout. All meme stocks dropped when robinhood locked them out.
2 NAKD just released a massive amount of new shares to the market yesterday.
>Naked Brand Group Limited (NASDAQ:NAKD) ("Naked" or the "Company"), a global leader in intimate apparel and swimwear, today announced that it has entered into securities purchase agreements with certain institutional investors for the issuance and sale of 29,415,000 of its ordinary shares at a price of $1.70 per share, for aggregate gross proceeds of approximately $50 million, in a registered direct offering priced at-the-market under Nasdaq rules.

So a release of more shares plus the Robinhood temporary ban on sales both affected the market. I think when normies look at the list of possible meme stocks from the news they will see NAKD is the cheapest and it will be the one that the target after AMC becomes too high to purchase large amounts of shares.