On Thursday the Australian share market pushed higher for the second day in a row.
Amongst the many shares posting gains were the three shares listed below which stormed to 52-week highs or better. Is it too late to invest?
The BHP Billiton Limited (ASX: BHP) share price hit a multi-year high of $35.55 on Thursday. A strong full year result, the potential for a special dividend due to asset divestments, and favourable commodity prices have been the catalyst for BHP's strong share price performance. The good news is that I don't believe it is too late to invest in the mining giant's shares, just as long as a trade war doesn't hinder global economic growth.
The Coca-Cola Amatil Ltd (ASX: CCL) share price rose to 52-week high of $10.19 yesterday after announcing the joint acquisition of a 45% stake in Made Group. The Melbourne-based healthy beverage company is behind a number of popular brands including Rokeby Farms, NutrientWater, and, my personal favourite, Cocobella. Investors appear to believe this is a step in the right direction for Coca-Cola Amatil given the changing preferences of consumers. While I completely agree with this view, this acquisition isn't going to move the needle much initially, but could make a difference further down the line. I would class Coca-Cola Amatil as a hold.
The Volpara Health Technologies Ltd (ASX: VHT) share price rocketed to an all-time high of $1.07 on Thursday. Investors have been fighting to get hold of the healthcare technology company's shares since it announced the receipt of a new FDA 510(k) clearance for technologies used in Volpara Enterprise software and the Volpara Density clinical application. This means the company can now introduce its Volpara Live! System. I expect this to help the company with its aim of growing its market share in the U.S. breast screening market from 3.7% to 9% this year. Although its shares are looking expensive now, I feel that its strong long term growth potential goes some way to justifying this.
