If I take the stock price out of the equation, and just look at Coda, I would say the business has gotten worse over the past year due to the pandemic. While there are always interesting opportunities with this business, their core business is hampered with the restrictions in traveling to install products, the trade problems with Asia, and their structurally problems in scaling up. Their service business probably had a short term blip on the radar, but is mostly flat. TBD on the navy revenue, but not knowing this outcome I can’t count this as the business getting better.
That leads me to the conclusion that the rise in share price is from a) general market upswing b) short termers bidding up a low float company, and c) new investors with higher expectations on growth rates, based on the ‘opportunities’ mentioned above.
I’m not selling any shares at the moment, but I’m also not adding any until I get some clarity that the business is improving.
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