NGVT stock is currently trading at $46.19, and the bearish view stems from its ongoing strategic review of the Performance Chemicals segment, which introduces uncertainty about future operations and profitability. Additionally, despite a projected adjusted EBITDA of $400M+ for 2025, the stock's valuation may already reflect these expectations, limiting upside potential. The broader market volatility due to geopolitical and economic factors further adds to the risk for NGVT.