Shares of Naked Brand Group (NASDAQ:NAKD) gained roughly 8.9% in Thursday’s trading, according to data from S&P Global Market Intelligence. The stock has been gaining ground thanks to news of an impending merger and was up as much as 11.6% in the daily session.
Naked Brand made a regulatory filing on Aug. 20 announcing that it had entered into a preliminary merger agreement. There’s not much information currently available about the upcoming partnership or acquisition arrangement, but the pending arrangement is powering big gains for the company’s share price.
