The Australian share market has been a great place to invest your money this year. Since the start of the year the All Ordinaries index has gained an impressive 19.5%.
Whilst this is a very strong gain, some shares on the index have performed even better. Three shares that have smashed the market this year and more than doubled in value are listed below. Here's why they are on fire in 2019:
The Bubs Australia Ltd (ASX: BUB) share price has been on form again in 2019 and has gained a massive 166% since the start of the year. This strong gain has been driven by a number of positive developments and a strong end to the financial year. In respect to the latter, in the fourth quarter Bubs revealed record quarterly sales of $18.46 million. This was more than the entire sales it generated in FY 2018. Also getting investors excited was management's plan to launch a cow's milk infant formula. Given how big this addressable market is, it could be a sizeable boost to its sales next year.
The Fortescue Metals Group Limited (ASX: FMG) share price been one of the best performers in the resources sector this year with a gain of 128%. Investors have been scrambling to buy its shares this year due to a significant rise in the iron ore price. The price of the steel-making ingredient has risen strongly this year due to a combination of strong demand in China and supply issues in Australia and Brazil. This ultimately allowed Fortescue to post a record full year profit in FY 2019, leading it to rewarding shareholders with big dividend increases.
The WiseTech Global Ltd (ASX: WTC) share price has zoomed an impressive 102% higher in 2019. Investors have been buying the logistics solutions company's shares after it delivered another record result in FY 2019. Due to increasing demand for its platform from the world's largest logistics companies and its extremely low customer churn rate, WiseTech Global reported a 57% increase in total revenue to $348.3 million and a 33% lift in net profit after tax to $54.1 million. Pleasingly, management expects another strong year in FY 2020. Its guidance is for revenue growth of 26% to 32% and EBITDA growth of 34% to 42%.
