Why Sezzle and these ASX shares recorded huge gains in July

Sezzle Inc (ASX:SZL) and these ASX shares surged materially higher in July. Here's why they recorded incredible gains for shareholders…

Last month the S&P/ASX 200 Index (ASX: XJO) continued its recovery and recorded a 0.5% gain to end it at 5927.8 points.

While this was positive, a number of ASX shares thoroughly outperformed the benchmark index.

Here's why these 3 ASX shares recorded huge gains in July:

Rocket launching into space

Image source: Getty Images

Marley Spoon AG (ASX: MMM)

The Marley Spoon share price was a very strong performer and stormed 81% higher in July. Investors were fighting to get hold of the global subscription-based meal kit provider's shares last month after the pandemic led to a surge in demand for its offering. According to its second quarter update, quarterly revenue came in at 129% higher than the prior corresponding period at 73.3 million euros. This led to management increasing its revenue guidance for FY 2020. It now expects revenue growth of at least 70%, compared to its previous guidance of ~30%.

Sezzle Inc (ASX: SZL)

The Sezzle share price was on fire and recorded an 82% gain last month. The strong gain was driven by increasing investor interest in the buy now pay later industry and the release of its second quarter update. During the second quarter, Sezzle delivered underlying merchant sales (UMS) of US$188 million. This was a 57.5% increase on the first quarter and a 348.6% lift on the prior corresponding period. Management advised that this was driven by strong growth in customer and merchant numbers and the accelerating shift to online shopping.

Whispir Ltd (ASX: WSP)

The Whispir share price was easily one of the best performers on the market in July with a gain of 117%. Investors were buying the communications workflow platform provider's shares last month after the pandemic accelerated its growth. In its 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. Management advised that this was driven by organisations looking to adopt more sophisticated yet easy-to-use communications systems.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Whispir Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia has recommended Sezzle Inc and Whispir Ltd. 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.

More on Share Gainers

A woman is very excited about something she's just seen on her computer, clenching her fists and smiling broadly.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy end to the trading week for investors this Friday.

Read more »

A woman looks shocked as she drinks a coffee while reading the paper.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a brutal day on the markets this Thursday.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Which were the best-performing ASX 200 shares in September?

These shares didn't let a falling market stop them from racing higher last month.

Read more »

Multi-ethnic people looking at a camera in a public place and screaming, shouting, and feeling overjoyed.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a strong hump day on the ASX today.

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wild, but ultimately positive, Tuesday for investors.

Read more »

Rocket going up above mountains, symbolising a record high.
Share Gainers

Invested $5,000 in Dateline shares a week ago? Here's how much you'd have now

It's been a huge week for Dateline shares.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy start to the week's trading today.

Read more »

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a sour end to the trading week for investors this Friday.

Read more »