Here’s why the Challenger (ASX:CGF) share price is up 80% in 6 months

For many years, the Challenger Ltd (ASX: CGF) share price was one that many an ASX investor probably wished they could forget. Since peaking at above $14 per share back in late 2017, Challenger shares have been in freefall.

This is a company that bottomed out at $2.82 per share in just the past 12 months. That represents a loss of 80% over three years or so.

But the Challenger share price has staged a remarkable recovery in recent months. Challenger shares were trading at $3.63 back in mid-September last year. Today, those same shares are going for $6.55 at the time of writing. That’s a recovery of ~80% in just six months, not a bad return.

So what has breathed new life into this annuities company?

Well, to answer that question,…