The Australian share market has been on fire this month, rising to a multi-year high thanks partly to the Federal election result.
Unsurprisingly, this has led to a number of shares storming to 52-week highs or better. Three that achieved this are listed below. Here's why they are flying high:
The Audinate (ASX: AD8) share price reached an all-time high of $7.49 on Wednesday. Investors have been fighting to get hold of the shares of the leading provider of digital Audio-Visual networking technologies due to the success of its Dante audio over IP networking solution. Dante is an uncompressed, multi-channel digital media networking technology, with near-zero latency and synchronisation. The quality of the product has led to Dante quickly becoming the industry's preferred audio networking solution. At the last count the product had been adopted by more pro-audio AV manufacturers than any other networking technology.
The InvoCare Limited (ASX: IVC) share price climbed to a 52-week high of $16.08 yesterday. The funerals company's shares have been on a solid run since the release of first quarter update earlier this month which revealed that trading conditions have improved this year. In addition to this, a particularly severe flu season appears to have caught the eye of investors and could (unfortunately) mean increased demand for its funeral services.
The Next Science Ltd (ASX: NXS) share price raced to a new all-time high of $2.49 on Wednesday. This means that the recently listed medical technology company's shares have risen 149% since hitting the ASX boards at $1.00 per share last month. Investors appear to believe that the company's chronic wound treatment technology has a lot of potential. Next Science has four FDA cleared products currently available in the U.S. market to treat and manage surgical site infections and chronic wounds.
