The market may have dropped lower on Monday, but that didn't stop a number of shares from pushing higher.
Some shares even managed to climb to 52-week highs or better. Three shares that achieved this milestone are listed below. Here's why these shares are flying high right now:
The Afterpay Touch Group Ltd (ASX: APT) share price was on form again on Monday and climbed to an all-time high of $31.38. Investors have been buying the payments company's shares after its full year results surprised to the upside in August. Afterpay Touch delivered a 140% lift in underlying sales to $5.2 billion and an 86% increase in total income to $264.1 million thanks to further impressive growth in both the ANZ and US markets. In addition to this, the signing of a strategic partnership agreement with payments giant VISA and a very positive start to life in the UK caught the eye of investors.
The Nanosonics Ltd (ASX: NAN) share price continued its positive run and reached a record high of $6.99 yesterday. Investors have been fighting to get hold of the infection control specialist's shares after it reported a record full year result. In FY 2019 Nanosonics achieved a 39% increase in sales to $84.3 million and a massive 201% lift in operating profit before tax to $16.8 million. Investors appear to believe that the company can continue this positive form and deliver similarly strong growth in FY 2020. Especially if it gains the regulatory approval required to release its secretive new product which is targeting an unmet need.
The Serko Ltd (ASX: SKO) share price raced to an all-time high of $4.30 on Monday. The online travel booking and expense management provider's shares have been on fire this year thanks to its strong performance in FY 2019 and positive outlook for the year ahead. Due to strong demand for its services from numerous blue chip customers, Serko posted a 28% increase in operating revenue to NZ$23.4 million and a 26% lift in recurring revenue to NZ$20.7 million. Looking ahead, management expects more of the same in FY 2020 and has provided total operating revenue growth guidance of between 20% and 40%.
