By Dhirendra Tripathi
Investing.com – Shares of Naked Brands (NASDAQ:NAKD) popped in Friday’s premarket after it disclosed that Ault Global (NYSE:DPW) holds more than 41.1 million shares or 6.4% of its equity.
As many as 4.97 million shares of the company had exchanged hands, making it the most traded counter so far ahead of the session’s opening.
The stock has gained almost 225% year to date through Thursday, milking the frenzy around meme stocks.
The New Zealand-based intimate, apparel and swimwear company last month raised $270 million to clear its debts as it re-establishes itself as a pure-play e-commerce platform.
Ault is a diversified holding company acquiring undervalued assets and disruptive technologies it thinks will have a global impact. The holding company model provides the structure to raise, allocate, deploy and manage significant permanent capital. The company usually purchases companies it believes it can operate more effectively than incumbent management.