Although the All Ordinaries has had a few wobbles this week, it has still recorded a very strong gain of 17.5% this year.
Whilst this is impressive, a number of shares on the index have performed even stronger. In fact, the three shares listed below have more than doubled in value this year. Here's why they are flying high:
The Bubs Australia Ltd (ASX: BUB) share price has gained a whopping 174% since the start of the year. This has been driven by a series of positive updates and developments and a strong fourth quarter update which revealed record quarterly sales of $18.46 million. This was more than the entire sales it generated in FY 2018. In addition to this, management's plan to launch a cow's milk infant formula went down especially well with the market.
The Jumbo Interactive Ltd (ASX: JIN) share price has been on form again this year with a gain of 272%. The online lottery ticket seller's shares have been in demand thanks to another impressive performance in FY 2019. Jumbo delivered a 75% increase in total transaction value to $321 million, a 64% jump in revenue to $65 million, and a massive 124% lift in net profit after tax to $26.4 million. It also reported positive growth in all its key metrics such as customer numbers and average spend.
The Zip Co Ltd (ASX: Z1P) share price has been on fire this year with a 335% gain. Investors have been fighting to get hold of the payments company's shares this year thanks to a very strong performance in FY 2019. Over the 12 months the company reported a 138% increase in revenue to $84.2 million and a 108% lift in transaction volume through its platform to $1,128.5 million. This was driven by strong customer and merchant growth. Also impressing the market was its guidance for the year ahead. Management is aiming to almost double both its active customers and annualised transaction volume in FY 2020 partly through its international expansion.
