Over a month has passed since the tragic collapse of the Morandi bridge in Genova. As expected, the attention on this subject is waned and there is still no shadow of the culprit.
A few hours after the tragic event I wrote:
"It is very unlikely that the politician’s statements will find a practical realization, and it is much more probable that, in the end, there will be a scapegoat similar of what happened with ‘Schettino’ following the costa Concordia tragedy”.
Atlantia, which is the company that controls all the highways in Italy saw its stock price decreasing by over 20% following the tragedy.
As we can see from the below chart, prices remained on the support level it was reached after the bridge collapse.
I remain of the idea that, for the long term, it is a good stock to have in the portfolio.
Article written by Luca Discacciati