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Codan / Minelab Stock Price Down


phrunt

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Currently with the war in Ukraine and  fuel prices increasing, delivery cost and food products are increasing everyday especially in the US , there's less spendable cash available , which trickles down into hobbies, I feel certain sales sectors will be affected

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  • 1 month later...

Share price is a reflection of what the market thinks will happen in the future - Codan board in their half yearly February 2022 report could not forecast with confidence what sales will be for the next period  even though they had just reported their best sales and profit ever. Markets hate the uncertainty of no sales/profit forecast  and there is the added uncertainty of a newly appointed CEO in Jan 2022 - who just happens to be my old boss  (i have been retired for 5 years now) - he is a good operator and i am sure will do well at Codan.

 

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  • 3 weeks later...

Things certainly aren't improving.

2147109588_Codanshares.jpg.f91482ad5a6695ec37194e59b2ab0eac.jpg

 

The top chart is the past month, the bottom is the year to date.

And this is for the past year

1201386409_Codanyear.png.6df40de211b5b0e81b7aeab06dae661a.png

I'm so glad I dumped mine after the highs of the Equinox.  Losing 63% in a year.

We'll they just squeezed $8500 NZD out of me late last week so that might help them a bit 🙂

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June 2019 to June 2021 Codan's share price jumped from about $3 AUD to around $18 AUD which is a huge increase - current price of about $6 AUD is still about double to where Codan's share price has historically sat. Looks to me that that the market was expecting the GPX6000 to have a greater impact on the companies profits than have materalised so far. Lets see if the share price jumps again when the next new product is released.

 

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I guess it shouldn't be forgotten they're no longer selling into Russia due to sanctions.

676195567_Globalfootprint.thumb.jpg.25579dea02994d695f4fbac6e6181b89.jpg

 

That's a big chunk of their market that disappeared overnight, it's like entirely losing Australia their home counties sales.  Combine that with the bumpy 6000 release and quality control issues.

They'll need to really up their game with the next release.  I think the Equinox 1000 would improve their share price, the popularity of the Equinox can't be underestimated, even though there are very competitive other players in the market now people would expect something good out of the 1000 and if they can deliver that and pull out as the clear leader again things are looking up for them.  If they can't improve on the 800 much it's difficult times ahead.

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Good point about Russia's war on Ukraine - it would affect Codan's sales but i think the $54m though positioned on the map over Russia is for the whole of Europe and Russia. So the loss of sales would be a lot less than $54m.

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