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Will the CSL share price crack the $300 barrier this week?

The CSL Limited (ASX: CSL) share price has started the new decade exactly how it finished the last – rocketing higher.

The healthcare group’s shares closed at $299.30 per share last Friday and set a new all-time high in the process.

Why you should watch the CSL share price this week

There’s a good chance the CSL share price could finally breach the $300 per share barrier for the first time ever.

That would be an impressive start to the new year, given the healthcare group’s shares are up a whopping 38,973% since its IPO.

CSL listed on the ASX in 1994 for an adjusted 3-for-1 stock split price of just 76.6 cents per share. That means an investor who bought and held $10,000 worth of CSL shares since the IPO would be sitting on $3,897,310.70 today.

Of course, most investors would have sold their shares well short of today’s all-time high. But if you were a true long-term buy-and-hold investor, that is a very tidy return from the CSL share price.

Where can I find the next CSL?

That is the multi-million-dollar question everyone would love an answer to. There have been several strong ASX growth shares emerge in recent years, all of which have potential.

The most notable ones are the “WAAAX” tech shares including Altium Limited (ASX: ALU), Appen Ltd (ASX: APX) and Xero Limited (ASX: XRO), which have seen similar growth trajectories to the CSL share price.

Outside of these, Nearmap Ltd (ASX: NEA) shares have rocketed higher in the past decade, and it has been a similar story for buy-now, pay-later companies like Zip Co Ltd (ASX: Z1P) and Afterpay Ltd (ASX: APT).

How can I make huge returns on the ASX?

To make the really big money and cash in on share price rises like CSL, you really have to be an IPO investor.

That is more difficult than you think, with evidence showing that you’re likely to lose money by investing in IPOs in the long-term.

Of course, if you can ride a winner like CSL all the way to the top, you may only need one ASX growth stock to make your retirement plans a reality.

If you're not looking for more growth stocks, check out these 3 ASX dividend shares for steady income in 2020.

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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO, CSL Ltd., and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of Altium and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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