The Race to $100: A new contender

A new contender enters the race to $100 as Commonwealth Bank of Australia (ASX:CBA) falters

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Bookmakers have been offering odds on which stock would be the first to see a share price of $100 or more.

In February this year, it seemed a forgone conclusion that Commonwealth Bank of Australia (ASX: CBA) would win that race, when the shares were priced at around $95.38.

Now, Commonwealth Bank has lost the lead and has not one but three companies that have overtaken it – as you can see from the chart below. Pharmaceutical giant CSL Limited (ASX: CSL) has now held the lead since April 8, but it seemingly has two contenders in the race to $100 in Cochlear Limited (ASX: COH) and newcomer vitamins and supplement producer Blackmores Limited (ASX: BKL).

Blackmores has shot up into contention following an enormous performance so far this year, although to be honest, shares do look a tad expensive currently at $87.40.

Source: Yahoo Finance data
Source: Yahoo Finance data

 

With CSL up another 2% to $96.60 today, my money's on the pharmaceutical stock to win the race (not that it really matters in the scheme of things).

Motley Fool contributor Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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