This morning the a2 Milk Company Ltd (Australia) (ASX: A2M) share price reached a new milestone when it hit an all-time high of $2.64.
Today's gain means the dairy company's shares have now gained a massive 28% year-to-date, making it one of the best-performers on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).
Why have its share rallied so strongly this year?
As well as a stunning half-year result which saw the fast-growing dairy company report a massive 290% increase in net profit after tax to NZ$39.4 million, investors have been fighting to get hold of its shares following positive news out of China.
That news was that Chinese officials have delayed their new cross border e-commerce laws indefinitely.
As these laws had threatened to reduce the sales of many leading exporters into the country, companies such as a2 Milk, Blackmores Limited (ASX: BKL), and Bellamy's Australia Ltd (ASX: BAL) could be big winners from the decision.
Especially with the growing popularity of a2 Milk's products in the lucrative market. In its half-year results the company reported a massive 348% increase in sales into China and Asia.
Is it too late to invest?
I don't believe it is, especially if investors are willing to hold onto its shares for the long-term.
At 32x trailing earnings its shares may come at a premium to the market average, but I believe its long-term growth potential makes up for this.
In light of this I think it is one of the best growth shares available to investors on the market today and I'm not surprised to see it make an all-time high today.
