Why October has been a huge month for the ASX

Will the top performing ASX stocks in October repeat the trick in November?

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

October has been a huge month for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which is up 3% over the last month, compared to a decline of 2.44% over the previous 6 months.

Here's a recap of the top stocks in October:

  • The a2 Milk Company Ltd (Australia) (ASX: A2M) share price is up 24% in October and reached an all-time high of $7.67 last Friday. Investors were encouraged by the insatiable demand for its infant formula in the China market which resulted in sales into China rising from $38.2 million to $88.9 million, and EBITDA from $9.2 million to $32.7 million in FY 2017. The company has also  gained CFDA approval to continue selling its products in the market from January 1 2018 when regulations change.

 

  • The Bellamy's Australia Ltd (ASX: BAL) share price was up 63% in October thanks to strong demand for Australian infant formula from Chinese consumers and daigou shoppers.

 

  • The Blackmores Limited (ASX: BKL) share price is up 27% in October with leading brokers such as  JP Morgan expecting Blackmores to deliver $4.60 in earnings per share this year. If achieved, this would translate to an impressive year-on-year earnings growth of over 35%.

 

  • The Praemium Ltd (ASX: PPS) share price is up  41% in October after buyer sentiment continued to gain momentum off the back of an announcement earlier in the month that the company achieved record platform inflows and funds under administration for the recent quarter.  

 

  • The Freelancer Ltd (ASX: FLN) share price was up 30% in October as the share price recovered from previous 52-week lows. Investors were encouraged as the company announced positive news in relation to its recently acquired US-based Escrow.com business. The company released an investor presentation outlining the details for an open Application Interface (API) allowing any online businesses that manage transactions to integrate escrow payment services within their online marketplace.

 

  • The Brainchip Holdings Ltd (ASX: BRN) share price was up 33% in October after the company announced that it has shipped its first BrainChip Accelerator card to a major European automobile manufacturer.

 

  • The Vocus Group Ltd (ASX: VOC) share price was up 13% in October after the group  announced that the board had decided to put its Vocus New Zealand consumer-internet business up for sale and use the proceeds to pay off its debts. The  company also revealed that it had "20+ live prospects" in terms of revenue-generating customers for the Australia Singapore Cable.

 

  • The Big Un Ltd (ASX: BIG)  share price is up 56% in October after it announced the development of a dedicated Big Review TV channel available on Apple TV for launch next month. Management believes this will further drive revenue across its business model. Furthermore, it plans to develop similar dedicated Android channels early next year.

 

Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned. You can follow Kevin on Twitter @KevinGandiya The Motley Fool Australia owns shares of A2 Milk, Blackmores Limited, and Vocus Communications Limited. 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »