If you looked away from the transformation of Naked Brand Group (NASDAQ:NAKD) in November, then you missed a bombshell. That’s saying a lot given what NAKD stock investors have been experiencing. But the latest development is the most out of left field thing to happen to this penny stock and Reddit trader favorite, bar none. In November, Naked Brand announced the planned acquisition of Cenntro Automotive Group.
That’s right, Naked Brands has pivoted dramatically and will soon be an electric vehicle (EV) company. And not just any EV company; one that already has a proven lineup of commercial vehicles in production, sales in the order book, and bragging rights for having more of its commercial EVs in use by customers than any other manufacturer.
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This post Penny Stock Naked Brand Stock May Be the Cheapest EV Play Yet originally appeared at InvestorPlace.