Although it finished the day in the red, at one stage the Blackmores Limited (ASX: BKL) share price climbed to a 52-week high of $178.00 on Friday.
Why are Blackmores' shares at a 52-week high?
Investors have been fighting to get hold of shares since the health supplements company released its quarterly update in October.
That update revealed that the company has returned to growth in the first-quarter with net sales of $134 million and net profit after tax of $15.4 million.
This was a 9% and 28% increase, respectively, on the prior corresponding period.
A key driver of this growth was demand from Chinese consumers. Direct China sales increased 28% on the prior corresponding period.
This strong run does, however, mean that Blackmores' shares are now changing hands at almost 42x estimated forward earnings.
