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NHYDY - Norsk Hydro - An Unfortunately Complex 'Hold'
Norsk Hydro ASA ADR
I have been getting inquiries again about Norsk Hydro, given their relative outperformance over time, which has only recently started to abate.
I view the upward trajectory up until March/April 2022 as a bit of a market "mistake", incorrectly reflecting too high of a premium. Remember, the share price was 25 NOK.
While I don't expect to be able to buy NHYDY at that multiple for some time, that does not mean we should be leaping to invest at 60-70 NOK.