(NEW YORK)–As big short plays sell-off now may be time to take a more reasonable position in Naked Brand Group (NASDAQ:NAKD) on the dip.
NAKD, along with GameStop (GME) and AMC Theaters (AMC) finally saw the sell-off most traders had been expecting after the historic short squeeze rally the prior week.
The RSI of NAKD has now reset to just above 50, and price remains above its 20-day moving average, making NAKD a much more attractive pick-up here at the $0.82 price point.
Funding in Place
The Company made the smart move to raise $50 million while stock was running, which should help them fund their transition to their more profitable ecommerce segment of business.
Look for bargain hunters to move in, along with short covering, to see NAKD make an attempt back above the $1.00 if things hold through in the short-term.
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About Naked Brand Group Limited:
Naked Brand Group Limited (NASDAQ:NAKD) is a leading intimate apparel and swimwear company with a diverse portfolio of brands. The company designs, manufactures and markets a portfolio of 8 company-owned and licensed brands, catering to a broad cross-section of consumers and market segments. Brands include Bendon, Bendon Man, Davenport, Fayreform, Hickory, Lovable, Pleasure State and Fredericks of Hollywood. For more information please visit www.nakedbrands.com
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