• Why Shares of Cenntro Electric (Formerly Naked Brand) Are Down Today
    Fashion

    Why Shares of Cenntro Electric (Formerly Naked Brand) Are Down Today

    What happened Shares of Cenntro Electric Group (NASDAQ:NAKD), the company formerly known as Naked Brand, were trading lower on Thursday. The former meme stock has been moving steadily lower since mid-November, shortly after Naked Brand — at the time still a struggling lingerie maker — announced that it would merge with electric-vehicle maker Cenntro. As of 10:45 a.m. ET, Cenntro’s shares were down about 10.3% from Wednesday’s closing price and down about 22.4% since the beginning of 2022. So what Cenntro’s story is an interesting one. The company is the result of a merger between a small privately held maker of electric commercial vehicles (Cenntro) and a publicly traded maker…

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