Why I am still keen on Codan
The share price of electronic solutions and metal detector maker, Codan (ASX: CDA), has fallen around 42 per cent since June. It’s now back where it was around 12 months ago. But instead of being concerned, I believe the company continues to have a very bright future.
Long term readers will know that Codan is one of my favourite companies and it has been a significant contributor to fund performance over the past four years. After peaking at just over $19/share in June, the share price has come off and is now trading at just over $10/share as we can see in this chart which shows Codan’s share price during the last five years.
So what has happened to cause such a fall?