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April 9, 2021, 6:40 a.m. EDT

Naked Brands stock soars after disclosing Ault Global owned a 6.4% stake

Shares of Naked Brand Group Ltd. soared 20.0% in active premarket trading, after the New Zealand-based apparel and swimwear company disclosed that Ault Global Holdings Inc. owned more than 41.1 million share, or the 6.4% of the shares outstanding. With trading volume at 3.8 million shares, Naked Brand's stock was the most actively traded ahead of the open. The stock has been declining steadily since mid February, after being caught up in the trading frenzy surrounding so-called meme stocks in late January, which started with the stock soaring more than 250% on Jan. 28. Since closing on Feb. 11 at $1.56, the stock has tumbled 60.3% to close Thursday at 62 cents. Still, the stock has gained 224.7% year to date through Thursday, while the S&P 500 (S&P:SPX) has gained 9.1%.

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