Naked Brand (NASDAQ: NAKD) stock has continued to run at low levels over the past few months. Despite NAKD is a meme stock which were favored by retail investors, it can not help.
This stock had hope before. The company's shareholders had previously approved the divestiture of its unprofitable brick-and-mortar operations in order to concentrate more resources to its e-commerce business, but it seems that it is not easy to compete with powerful e-commerce companies such as Amazon. Naked previously said that it had more than $200 million in cash and no debt, these money can continue to burn in its e-commerce business for a while, but what happen next when the money burned out?
Additionally, NAKD stock is in danger of delisting. If the company's stock price is below $1 for a period of 30 consecutive business days, it will remove from Nasdaq. NAKD stock is currently at $0.54 per share, it is not clear if the company has more positive news, so, it is not a good time to buy the stock now.
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