#WallStreetBets: Naked Brand Group Stock - Analyzing The Price Action (MalkamDior)
Naked Brand Group's Stock Price And Volume Action Triggered by Redditor MalkamDior -
Naked Brand Group's (NASDAQ:NAKD) stock has been rising Friday, up 26.53% to a price of $1.76. Friday the stock has been traded at a volume of 191.43 million, about 64.7% of its recent 30-day volume average of 295.91 million.
Why It's Moving
That is notable because the company has already renegotiated some of its debt with a lender this month. On Jan. 15, the company issued $100 million of first-lien secured debt to Mudrick Capital, exchanging $100 million of Mudrick’s second-lien debt for common stock as part of the deal, according to S&P Global Ratings. S&P said in a Jan. 21 note that it considered that debt exchange to be a “selective default,” arguing that the lender didn’t receive the full value of its initial loan.
Even so, the movie-theater chain’s CEO ruled out bankruptcy early this week while announcing a slew of fundraising since December. AMC also launched and completed a share-sale program this week, where it raised more than $300 million. It sold the shares at an average of $4.82 per share, however, well below where the stock closed Wednesday at $19.90.
Benzinga Pro's real-time breaking news service shows some insight into what is affecting shares: Naked Brand Group shares are trading higher amid continued momentum driven by retail investor interest in the stock.
Further Analysis of Recent Price Action
The 50-day moving average price of Naked Brand Group's stock was $0.28 when this article was published. The stock reached a high of $3.4 and a low of $0.07 in the past 52 weeks.
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