The S&P/ASX 200 slumped 58.3 points to hit a day low of 6,224 on July 23, but these three stocks were aiming up at 52-week highs.
Here's some insight into why.
Carnarvon Petroleum Limited (ASX: CVN)
Shares in small-cap oil and gas exploration company Carnarvon Petroleum Limited have gone ballistic of late – rising 471% from its 0.07c per share price at this time last year to open at a 52-week high of 40c today.
Carnarvon shares rose 12.5% yesterday alone, with investors rallying behind the company after its announcement last week that it had made a significant oil discovery at its Western Australian Phoenix project, with further positive drilling results for the Dorado-1 well announced today.
Carnarvon's find also gave big-time peer Woodside Petroleum Limited (ASX: WPL) a boost, with Woodside saying its explorers were "enthused" due to having acreage in the same Bedout Basin where Carnarvon struck liquid gold.
Oil Search Limited (ASX: OSH), Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) shares have been up and down of late, with all three opening in the red to kick off today's trade.
Nearmap Ltd (ASX: NEA)
It's been a profitable year for geospatial map technology company Nearmap Ltd, with its share price up 114% from 74c per share at this time last year to open today at $1.59 – a 52-week high for the stock.
Nearmap has clocked some impressive portfolio growth, as per its recent trading update, faring particularly well in its US operations with 143% growth in the segment with the group's overall Annualised Contract Value as at June 30, 2018, up 41% to $66.2 million.
Nearmap's growth potential is hard to ignore and while the building and construction sector slowdown may impact its customer base in that segment, Nearmap has plenty of market share growth in the rail, solar and government space.
I think there still might be time to snap up some Nearmap shares if you're looking medium to long-term, but don't expect much of a dip in price any time soon for your buy-in because any fall back looks unlikely.
Kathmandu Holdings Ltd (ASX: KMD)
Adventure clothing and equipment company Kathmandu Holdings Ltd shares are at a 52-week high opening today's trade at $3.02 – up 41% from its share price of $2.13 at this time last year with no signs of slowing down.
Kathmandu reported significant growth in its expected earnings for FY18 last month, with NPAT expected to rise from $38 million last year to between $48 million and $52 million and EBIT expected to grow from $57 million last year to between $72 million and $77 million.
Sales for the retailer have jumped 7.7% from last year with strong growth across Australia and New Zealand and the company's gross profit margin up 2.4%.
Clothing retailer peer, also at a 52-week high, is Noni B Limited (ASX: NBL) with its shares up 85% in the last 12 months from $1.83 at this time last year to $3.39 at the time of writing as investors were buoyed by its acquisition of five key brands from Speciality Fashion Group Ltd. (ASX: SFH).
