The S&P/ASX 200 Index (ASX: XJO) may have been out of form on Wednesday, but that didn't stop a number of shares from racing higher.
Some even managed to climb to 52-week highs or better despite the ASX 200 dropping 1.3%.
Three ASX shares that have achieved these milestones are listed below. Here's why they are on a high:
HUB24 Ltd (ASX: HUB)
The HUB24 share price climbed to a 52-week high of $13.64 on Wednesday. Investors have been buying the investment platform provider's shares after it continued its strong growth despite the pandemic. In fact, HUB24 recently revealed a record performance during the fourth quarter. It recorded a net inflow of $1.1 billion for the quarter, which together with favourable market movements, lifted its funds under administration by 14% or $2.1 billion to $17.2 billion. This means that its average monthly net inflows during FY 2020 was $412 million, up 26% from $326 million per month in FY 2019.
Marley Spoon AG (ASX: MMM)
The Marley Spoon share price stormed to a record high of $2.40 yesterday. Investors have been buying the meal kit delivery company's shares after demand surged during the pandemic. This led to Marley Spoon's first quarter revenue growing 46% on the prior corresponding period to 42.8 million euros. Another big positive was that this stronger than expected growth has accelerated its path to profitability. Next week Marley Spoon will be releasing its second quarter result and is tipped to reveal even stronger growth.
Whispir Ltd (ASX: WSP)
The Whispir share price continued its incredible run and hit a record high of $4.48 on Wednesday. This means the communications workflow platform provider's shares are now up over 550% from their March low of 68 cents. As with the others, investors have been buying Whispir's shares after the pandemic accelerated its growth. In its recent fourth quarter update, the company revealed annualised recurring revenue growth of 4.2% over the March quarter and 35.7% over the prior corresponding period to $42.2 million. This was driven by strong demand from new and existing customers.
