Naked Brand Group: Naked Brands Undertakes Reverse Split, Acquisition Of Cenntro: What Investors Need To Know

An e-commerce company's stock is moving higher Wednesday morning. The movement is the result of a reverse stock split. Here's the details and an update on an acquisition that could change the face of the company. What Happened: Naked Brand Group (NASDAQ: NAKD) completed a 1-for-15 reverse stock split Wednesday. Shareholders now have one share for every 15 they own. The reverse split was done to meet a minimum share price required for the company's acquisition of Cenntro Automotive Corp and Cenntro Electric Group, according to the company. Related Link: Naked Brand Enters The EV Sector: What The Chart Says Is Next For The Stock What's Next: Naked Brand Group announced an acquisition of electric vehicle technology company Cenntro in November. Cenntro has sold and delivered over 3,300 commercial electric vehicles ...Full story available on Benzinga.com