NRGY is my largest position, buying it at a little under 16. It has dropped 20% from there and I don't know why. The merger should be closed at the end of the month but I don't know if that will help, and even if it does it's a long way back to positive for me.
Anyone have an idea as to why the big drop? It's an MLP GP, which is rare, and distributions should grow at high clip after the merger. Huge insider ownership as well with a strong PE sponsor. Why the big downturn?
I think it may have something to do with the recent new stock offering at NRGM. When the CMLP merger is complete, there will remain only two tickers, NRGY and NRGM, no? When it all settles, I think both have nowhere to go but up.