This is getting ridiculous. On days where the shipping stocks go up, DRYS, EXM etc rise much more than NM, but NM falls along with them much more than it rises.
I have already averaged down and can not add anymore shares, as I already have too much money tied up in NM. This downtrend is annoying me. Long since $19, $16.
I have no problem waiting this out a bit, but do not want to be waiting for years for NM and this sector to recover. Even if the BDI improves by spring, this market is horrible and getting worse day by day. By the time spring comes this market may be in such bad shape that a rise in the BDI won't be enough to bring this sector up. Hopefully this bottoms out soon or NM can go a lot lower.
I believe it is worth the wait. with a PE of 18 and estimated growth rate of 34% the PEG looks like .52. This stock would need to double to get to a 1 PEG. This is incredibly cheap for a company that has their revenue backed by its leases.