Shares of Australian undergarment company Naked Brands International (NASDAQ: NAKD) rose a huge 33% in August according to data provided by S&P Global Market Intelligence . The stock was basically bumbling along until late in the month, when it held its annual shareholder meeting. Investors were pleased by the update.
The first thing that investors need to recognize with Naked Brands is that it has gotten caught up in the Reddit investment craze. That means investor activity may be driven more by emotion than by actual fundamentals. This penny stock is not for the faint of heart.
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Why Naked Brands Group Rocketed 33% in August