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These ASX shares have more than doubled in value in 12 months

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The All Ordinaries (Index: ^AXAO) (ASX: XAO) may have managed to put on a gain of 9.5% over the last 12 months, but this pales in comparison to some of the gains being made on the market.

In fact, some shares have managed to more than double in value over the period.

Three that have achieved this feat are listed below. Is it too late to invest?

The Afterpay Touch Group Ltd (ASX: APT) share price has risen a staggering 229% since this time last year. The impressive penetration of its buy now pay later platform in Australia has largely been behind this rise. However, some of these share price gains can also be attributable to its expansion into the U.S. market. Which does make Afterpay a high risk option now, as there is no guarantee that it will be able to replicate its success in this lucrative market. I’m optimistic that it will be a success, but it might be prudent to hold off an investment until its next update.

The Cann Group Ltd (ASX: CAN) share price has rocketed over 370% over the last 12 months. The company is being seen as a big winner from the Federal Government’s decision to allow exports of medicinal cannabis due to its sizeable growing facilities and expertise. Backing up the share price rise was talk of a takeover approach by Canadian cannabis giant Aurora Cannabis. In April the company admitted that talks were at a preliminary stage. A price of $4.50 per share has been touted in the media, valuing it at approximately $500 million. It might be best to stay clear of Cann Group until takeover talks conclude. After all, if a formal takeover approach does not materialise, its shares could sink lower.

The WiseTech Global Ltd (ASX: WTC) share price has surged 133% higher since this time last year. Investors have been piling in on the belief that the significant number of acquisitions the company has been making will allow the logistics platform provider to carve out a market leading position and generate significant long-term growth. I think WiseTech Global is one of the best tech shares on the ASX, however I would prefer to buy in at a cheaper price. Because of this I would suggest investors hold out for a decent pullback in its share price.

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Returns As of 6th October 2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and 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 Scott Phillips.

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