I have been wondering for some time now how NAV's share price continues to defy gravity. Commercial truck market in the dumps and no significant military contracts to supplement but the stock continued to rise. The stock should really sell off hard, but I wouldn't be surprised if it didn't have a major sell off tomorrow.
NAV is not traded (bought) by ordenary people. Anyone who wants to invest checks the stats and sees the negative stockholder value. And no dividend. Why own it? NAV is traded by hedgefunds, and in the past some pension funds. All these trades are based on a superficial analysis and greed. Also contributing is the very low number of outstanding shares. Every 2 months each is sold/bought. First Harbinger, then Owl Creek and now god-knows-who-what-fund (AXA) is acculating NAV shares.