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Why these 3 ASX shares just raced to all-time highs

The market may be going sideways today, but that didn’t stop a number of shares from climbing to all-time highs.

Here’s why these three shares are scaling new heights today:

The Mineral Resources Limited (ASX: MIN) share price reached a new high of $21.36 this morning. Investors have been piling into the mining and mining services company this year due to the potential of its massive lithium asset. Its shares were given an additional boost recently after announcing plans to acquire AWE Limited (ASX: AWE) before the Christmas break.

The WiseTech Global Ltd (ASX: WTC) share price hit a new high of $14.66 today. The logistics software platform provider’s shares have more than doubled in value this year following a strong full-year result and forward guidance. Investors also appear to be bullish on the acquisitions it has made. Last week the company advised that it has acquired two leading European customs solutions providers. These were its tenth and eleventh acquisitions of the year. Whilst I am a fan of the company, I think its shares are a touch expensive at 93x estimated forward earnings.

The Yojee Ltd (ASX: YOJ) share price continued its solid run and climbed to a new high of 31 cents on Thursday. The technology company’s shares have been on a strong run since last week’s market update revealed significant growth from its Singapore last mile logistics network. According to the release, last mile deliveries on Yojee’s Singapore network have grown 150% over the last month, to achieve an almost 700% increase over the last six months. Yojee could be one to watch in 2018.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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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