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    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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