Year-to-date the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to carve out a solid gain of 5.7% thanks largely to a strong run over the last couple of months.
Whilst that is a good return, it pales in comparison to some of the individual returns being made on the market.
The three ASX shares listed below have at least tripled in value this year. Here's why:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has climbed 276% this year thanks to the insatiable demand for its infant formula products in China. According to its AGM update, this demand is expected to result in the company delivering first-half EBITDA growth of 120.8%. Considering the company still has only a small share of the lucrative market, I believe there is plenty of growth left in its tank that could make a2 Milk a great buy and hold investment.
The Avz Minerals Ltd (ASX: AVZ) share price has risen a staggering 1,685% since the start of the year due to the impressive drilling results from its Manono Lithium Project. These results continue to show that the project has the potential to be the largest hardrock source of lithium in the world. With lithium demand expected to grow substantially over the next couple of decades thanks to the rapid adoption of electric vehicles, Avz Minerals could be sitting atop a lucrative asset.
The LiveHire Ltd (ASX: LVH) share price is up 200% so far in 2017. Investors have been fighting to get hold of the talent technology company's shares following a series of big client wins and its fast-growing cash receipts. Management believes the total addressable market is worth $20 billion globally. If it can grab a meaningful slice of this market then there certainly could be a lot more upside ahead for its shares over the next few years.
