Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has only managed to put on a gain of 0.2% since the start of the year, not all shares on the local share market have performed so poorly.
In fact, if you had invested in the three shares listed below at the start of the year, you would have more than doubled your money today.
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has climbed an astonishing 200% since the turn of the year. Investors have been fighting to get hold of its shares thanks to the insatiable demand for its infant formula from Chinese consumers. Whilst I think a2 Milk has enormous potential, its valuation does appear to be getting reasonably stretched now. For this reason I would rate it as a hold.
The Kogan.com Ltd (ASX: KGN) share price is up 186% in 2017. Despite the prospect of going head-to-head with retail behemoth Amazon, investors have looked beyond this and focused on the online retailer's strong full-year result. In FY 2017 Kogan posted full-year pro forma net profit after tax of $7.2 million. This was an 800% increase on the prior year and 188% higher than its prospectus forecast. But with its shares now changing hands at over 100x earnings, I think investors should approach Kogan with caution.
The Updater Inc (ASX: UPD) share price has posted a gain of 171% so far this year. The relocation technology company has impressed investors with the rapid adoption of its software. At the last count, Updater was processing 15.7% of all U.S. relocations. As a result of this stronger-than-expected adoption, the company has brought forward its business plan and aims to start generating meaningful revenue by the end of the year through the sale of business products. I think Updater is one to watch.
