Just under one month ago the S&P/ASX 200 Index (ASX: XJO) reached its bottom during the coronavirus crash.
Since then the benchmark index has had its wobbles, but overall has recovered very strongly from the selloff.
A number of shares have been particularly positive performers over the period, rewarding the brave investors that snapped up shares when the market was a sea of red.
Here are two top ASX 200 shares that have been on fire over the last 30 days:
Afterpay Ltd (ASX: APT)
The Afterpay share price is up a remarkable 200% since this time last month. The buy now pay later provider's shares were sold off during the early part of March amid concerns over the impact the pandemic could have on sales and bad debts.
The buyers came flooding back this month after Afterpay released a business update which revealed that its strong sales growth had continued across all its markets during the third quarter and into April. But perhaps best of all was news that its credit losses and income margins had remained stable during the period. Not even a global pandemic appears to be able to stop this growth machine.
EML Payments Ltd (ASX: EML)
The EML Payments share price has surged 77% higher since March 22. For the first eight months of FY 2020, this payments company was performing very strongly and was on course to hit the top end of its guidance. However, with the coronavirus pandemic impacting many of its biggest customers such as shopping centres and gambling companies, it was forced to suspend its guidance.
Investors appeared to be concerned that this disruption would mean another capital raising would be required to see it through the crisis. However, they were quick to buy back in when EML Payments revealed that its major acquisition of Prepaid Financial Services had been renegotiated. This meant the company would have to pay less upfront, leaving it with in excess of $100 million in cash and no debt. This leaves EML Payments well-placed to ride out the storm.
