The S&P/ASX 200 index has certainly been on form in 2019.
Since the start of the year the benchmark index has recorded a gain of over 21% excluding dividends. Whilst this is very impressive, some shares have climbed even more this year.
Three shares that have more than doubled in value in 2019 are listed below. Here’s why they have been market beaters:
The Afterpay Touch Group Ltd (ASX: APT) share price has put on a gain of 154% since the start of the year. Investors have been buying the payments company’s shares this year following its incredible performance in FY 2019 and its strong start to the new financial year. Afterpay smashed expectations in FY 2019 thanks to the success of its buy now pay later platform in the massive U.S. market. In addition to this, a stronger than expected launch in the U.K. has caught the eye of investors. This appears to demonstrate that Afterpay has the potential to disrupt the global payments market.
The Jumbo Interactive Ltd (ASX: JIN) share price has surged 192% higher year to date. The catalyst for this strong gain was the lottery ticket seller’s impressive FY 2019 result. During the 12 months Jumbo delivered a 64% jump in revenue to $65 million. On the bottom line things were even better. Jumbo reported a 124% lift in net profit after tax to $26.4 million. Another positive which has propelled its shares higher was its addition to the S&P/ASX 200 index earlier this year. This looks to have led to an increase in demand for its shares from exchange traded funds and fund managers. And finally, the company’s recently announced expansion into the UK has also given its shares a boost.
The Pro Medicus Limited (ASX: PME) share price is up a sizeable 136% in 2019. Investors have been buying the health imaging company’s shares thanks to its strong performance in FY 2019 and positive long term outlook. Thanks to strong demand and new contract wins, Pro Medicus posted a profit of $19.1 million. This was a 91.9% increase on the prior corresponding period. In addition to this, as with Jumbo, the company’s addition in the benchmark S&P/ASX 200 index earlier this year also gave its shares a lift.
The post Why Afterpay and these ASX 200 shares have doubled in 2019 appeared first on Motley Fool Australia.
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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 Jumbo Interactive Limited and Pro Medicus Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Jumbo Interactive Limited and Pro Medicus 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019