Two ASX shares have done particularly well over the last 6 months, with their share prices tripling during that period.
The Redbubble Ltd (ASX: RBL) share price rose from $1.94 in early July 2020, to its current price of $6.20 – a gain of 219%.
The Chalice Mining (ASX: CHN) share price, meanwhile, did even better and quadrupled in value in that period. Its share price rose from $1.05 in July 2020, to the current share price of $4.48 – that’s a return of more than 325%.
Let’s take a look at what’s been driving their share prices up.
Redbubble, like many other online ASX retailers, has been one of the big beneficiaries of the COVID-19 lockdown in 2020 as more people changed their shopping habits to online.
As a result, the Redbubble share price has been one of 2020’s top performers on the ASX.
The boost in its share price over the last 6 months has been underpinned by the company’s acceleration in revenues in the second-half of FY20.
The company reported a surge of 132% in revenues. Meanwhile, its operating earnings before interest, tax, depreciation and amortisation (EBITDA) increased from $6.3 million in FY19, to $15.3 million in FY20.
At its annual general meeting (AGM) in October, the company said its focus in FY20 had been on artists onboarding, intellectual property protection, and search engine optimisation (SEO) improvements.
Redbubble says that its main focus this year will be on active outreach to high-value artists, and aligning more of its brands to customers.
The strong performance in the Chalice Mining share price has been on the back of metals discoveries at its Julimar Nickel-Copper Project in Western Australia, as well as its Pyramid Hills Gold Project in Victoria.
In November, the company updated the market of its drilling progress at Julimar, saying that deposits found mean that the mine is emerging as a “globally significant deposit of critical metals in Western Australia.”
In its Pyramid Hills gold mine, the company also revealed significant gold deposits from its drilling program. The company said it identified several higher-grade primary gold zones, and planned to extensively extend the drill program around the area.
The drilling projects are continuing at both mines.
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Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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