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5 dark horse ASX shares that have tripled in the last 2 months

asx 200, share price increase
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It’s been a bumpy ride for the S&P/ASX 200 Index (ASX: XJO) and the broader markets over the past two months, that’s for sure. The ASX 200 has recovered more than 20% over that time since the lows we saw in March – more than twice the ASX 200’s average annual return.

But some ASX shares have done even better than this astonishing result. Here are 5 ASX shares that have (at least) tripled in value since the market bottomed two months ago.

Afterpay Ltd (ASX: APT)

Afterpay remains one of my biggest regrets from the March crash. Shares of the buy-now, pay-later giant plunged to under $9 two months ago, only to rebound to above $44 where they sit today.

It’s clear that the market severely misjudged Afterpay’s recession resilience, with the company reporting just today that its US sales continue to surge. If you had picked up Afterpay shares on 23 March 2020, you would be sitting on an approximate 450% gain today.

Sezzle Inc (ASX: SZL)

Sezzle only floated on the ASX in August last year and it’s been a bumpy ride since, to say the least. Sezzle shares have fluctuated between $2.86 and 35 cents since that time, with the latter price plumbed around late March. But the turn in market sentiment has also been kind to this payments minnow.

Sezzle shares have rocketed ~497% over the past two months, helped by a stellar sales report for the first quarter of 2020. Hindsight is 20/20 and it would have paid to make a big bet on this company just two months ago.

New Century Resources Ltd (ASX: NCZ)

This little-known zinc miner was a dark horse over the past two months, rising from just 5 cents a share in late March to today’s share price of 25 cents – making this one a 400% winner.

New Century is another company with an extremely volatile past. It only floated on the ASX back in July 2017 but has gone from 35 cents a share to $1.50 a share and back down to 5 cents a share since. Talk about a rollercoaster!

Pointsbet Holdings Ltd (ASX: PBH)

Yet another extraordinary winner is this new-age sports betting provider. Pointsbet shares bottomed out at $1.10 in late March, but today are trading for $5.03 – making this an easy ‘5-bagger’ in just two months.

Many investors likely assumed that the ban on sports around the world due to the coronavirus would decimate this company. But Pointsbet has been lifted by several US states relaxing gambling laws, as well as several sporting codes locking in resumption dates. Investors who bet big on this one would be very happy campers today!

AMA Group Ltd (ASX: AMA)

AMA is an auto-parts supplier and was abandoned by investors when the coronavirus pandemic became apparent. It appears investors initially assumed that people wouldn’t be fixing up their cars if they didn’t need to drive. Now traffic volumes are returning to more normalised levels, the sentiment has again turned with AMA.

AMA shares cliff dived to just 15 cents in late March, but today are asking 66 cents. That’s a healthy 340% gain for any investor who was willing to take AMA out for a spin just two months ago.

This Tiny ASX Stock Could Be the Next Afterpay

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Because 'Doc' Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget 'buy now pay later', this stock could be the next hot stock on the ASX.

Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

Returns as of 6th October 2020

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and Sezzle Inc. 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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