May 10, 2021
Naked Brand Group (NASDAQ:
NAKD) just completed the management buyout of its New Zealand / Australian retail Bendon fashion stores. Now the company has “$270 million in cash and no debt,” according to a statement by the company on April 23. That means NAKD stock is selling close to or even below its cash balance.
Source: Shutterstock
The reason for the ambiguity is that it’s a little unclear whether that $270 million is in U.S. or New Zeland dollars. The company reports in New Zealand dollars, but Naked Group’s recent capital raise of $94.898 million was in U.S. dollars (at the price of 83 cents per share, 80.66 cents after expenses).
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Gainers
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