Over the last 12 months the All Ordinaries (Index: ^AXAO) (ASX: XAO) has recovered from its meltdown at the end of last year to record a gain of approximately 5.5% excluding dividends.
If you add dividends into the equation this gain stretches to approximately 9.5%.
Whilst this is certainly a strong gain, it pales in comparison to some that have been made by a number of shares on the index.
Three shares that have more than doubled in value over the period are listed below. Here's why they have doubled:
The Afterpay Touch Group Ltd (ASX: APT) share price has risen a staggering 154% since this time last year. The payments company's impressive performance at home and in the United States has been the catalyst for this stellar share price rally. Investors appear to believe that the strong start in the United States is a sign that the Afterpay platform can replicate its Australian success in a market which is many, many times larger. One broker that believes Afterpay Touch's shares can still climb higher is Ord Minnett. It has a buy rating and $23.00 price target on the company's shares.
The IPH Ltd (ASX: IPH) share price is up 102% over the last 12 months. As well as performing strongly in the first half of FY 2019 and delivering a 23% increase in net profit after tax to $24.2 million, investors have been buying the intellectual property services company's shares since it announced the acquisition of a substantial stake in rival Xenith IP Group Ltd (ASX: XIP). Investors may believe the company will scupper Xenith's merger plans with QANTM Intellectual Property Ltd (ASX: QIP) and bolster its offering.
The WiseTech Global Ltd (ASX: WTC) share price has been a strong performer over the last 12 months with a gain of 107%. The key drivers of this gain were a strong full year result in FY 2018 and an equally strong first half to FY 2019. Last month WiseTech Global posted a 68% increase in half year revenue to $156.7 million and a 48% life in half year profit to $23.1 million. Management advised that this was "a reflection of our strategy to accelerate WiseTech's global growth and industry penetration, driven by geographic expansion, relentless innovation and deepening product capability, all of which saw usage by the world's largest logistics providers increase."
