Here’s why the Codan (ASX:CDA) share price rocketed 12% higher today

The Codan Limited (ASX: CDA) share price has been charging higher for a second day in a row.

In afternoon trade the technology company’s shares were up 12% to $11.32.

This means the Codan share price is now up over 18% over the last two trading days.

Why is the Codan share price rocketing higher?

Investors have been scrambling to buy the company’s shares this week following the release of its guidance for the first half of FY 2021.

According to the release, Codan has been experiencing very strong demand for its metal detectors from both the recreational and commercial markets.

This has been supported by the realisation of benefits from an expanding geographic spread, increased distribution into mass market retail channels, and…