These 3 ASX shares just raced to 52-week highs: Can they keep going?

The Zelda Therapeutics Ltd (ASX:ZLD) share price is one of three that have just hit 52-week highs. Can they keep climbing from here?

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Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has put in a bit of a mixed performance of late, this hasn't stopped a good number of shares from racing to 52-week highs.

Here are three which caught my eye today. Can they continue climbing higher?

The Big Un Ltd (ASX: BIG) share price surged to a 52-week high of 56 cents yesterday after the video technology products and services company released a positive third quarter update. Cash receipts grew 372% on the prior corresponding period to $5.6 million. This was thanks largely to an 82% jump in subscribers, as well as a significant increase in average revenue per user due to a growing preference for higher value packages. The strong performance means the company continues to be cash flow positive, increasing its cash balance by $1.7 million during the quarter. Whilst I think Big Un is a promising company, its shares are a little on the expensive side for my liking.

The GUD Holdings Limited (ASX: GUD) share price climbed to a new 52-week high of $12.25 on Thursday. This latest gain means the retail conglomerate's shares have now rallied a remarkable 17% so far in 2017. Although its first-half results were reasonably mixed, investors appear to believe the company will deliver a stronger second-half. But with its shares now changing hands at around 18x trailing earnings and full-year EBIT growth expected by management to be around 5%, I think its shares are looking fully valued now.

The Zelda Therapeutics Ltd (ASX: ZLD) share price raced to a new all-time high of 14 cents yesterday. The market appears to be pleased with the medicinal marijuana company's decision to expand its clinical trials in Chile to cover autism. Management expects the trials to commence in the second half of the year, meaning the company could be in a position to generate revenue as soon as 2018 if they are successful. Whilst I like Zelda and think it is one of the better pot stocks on the market, I would hold off an investment until the trials have been completed.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

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