Whilst not all shares on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) have had a happy 2017, there certainly are some having an incredible year.
So much so they have just climbed to all-time high share prices. Here are three in particular which have caught my eye today:
The Challenger Ltd (ASX: CGF) share price has hit a new all-time high of $12.94 today, bringing its 12-month return to a massive 50%. Considering the strong demand for its products, I can't say I'm entirely surprised by this huge gain. In its recent half-year results the company reported a 12% increase in assets under management to $64.7 billion. Although its shares may look a touch expensive, I still believe they represent good value for investors willing to make a buy and hold investment.
The Costa Group Holdings Ltd (ASX: CGC) share price has surged to an all-time high of $4.63 this morning. This means the horticulture company has now seen its share price rise by a massive 35% in 2017 thanks largely to a strong first-half result. Favourable weather and pricing, together with an improved performance in China were behind the strong result. But although these tailwinds remain, at 31x annualised earnings I think its shares are a little too expensive and in danger of a reasonably sharp decline.
The Zelda Therapeutics Ltd (ASX: ZLD) share price has rocketed to yet another record high of 13 cents. Its shares have been on a tear since the government announced plans to loosen regulations around medicinal cannabis use. In fact, in just the last 30 days the pot stock's share price has gained over 113%. Whilst I do like the company and think it could have a good chance of breaking into the lucrative insomnia and eczema treatment markets, it is still very early days. For this reason I would suggest investors keep Zelda on their watch lists.
