It's a strange thing to be marking the start of the trading week without dissecting the latest US-china trade war tweet that usually rattles the markets on a Monday morning. So with today's eerie sense of calm and collectiveness, it's a good time to have a look at which ASX growth shares are worth keeping an eye on this week. Here are two that I'm certainly watching
Altium Ltd (ASX: ALU)
Once again, the Altium share price is booking a huge month in gains. In just over four weeks, ALU shares have appreciated an astonishing 19.85% – meaning Altium is now up 75% for the year so far. This WAAAX growth monster impressed the market hands down with its 2019 financial year results a fortnight ago, reporting a 23% rise in total revenues and a 41% lift in profits after tax.
Altium is a software company whose flagship program Altium Design is a market leader in the design of printed circuit boards – an ever-growing and evolving space. Altium Design is offered on a subscription basis, which has assisted the company to grow revenues as quickly as it has. Although the Atium share price isn't too far from their all-time high of $38.49, if the company can stick to its ambitious growth plans, this may look cheap down the road.
Polynovo Ltd (ASX: PNV)
This one has been an even more exciting growth story than Altium in 2019 so far. The Polynovo share price started the year at 60 cents, but today a piece of this company will cost you $2.29 – a YTD rise of 282%. These extraordinary gains have resulted in the company rocketing into the S&P/ASX200 (ASX: XJO) Index for the first time recently.
Polynovo has been grabbing investors' attention with the success of its Novosorb product, which offers a high-functioning skin-supplement used in the treatment of severe burns and other dermal ailments. Novosorb has been impressing the medical community immensely, with a 435% increase in sales over the past year. It has also just been approved for use in Singapore, so things are certainly looking up for Polynovo.
Foolish Takeaway
When considering growth stocks, I personally like to look at where a company's sector might be in 5- or 10-years' time. Both healthcare and circuit software are in evergreen industries that I don't expect will be seeing any significant structural declines anytime soon, making these two ASX growth shares more than worth watching this week.
