Since the start of the year the All Ordinaries (Index: ^AXAO) (ASX: XAO) has been in fine form and pushed higher by almost 10%.
Whilst this is an impressive gain, it is nothing compared to the gains made by the three shares listed below. Here's why these shares are up at least 70% since the turn of the year:
The Bionomics Ltd (ASX: BNO) share price has zoomed 71.5% higher since the turn of the year. The biotech company's shares have been on a tear since the release of an update on its BNC210 drug candidate. Last year the company's shares were crushed after its trial results fell well short of expectations. However, in February the company revealed that all was not lost for BNC210. Further data analysis of its disappointing Phase 2 Post Traumatic Stress Disorder (PTSD) trial has shown the potential for significant patient benefit when the drug exposure is adequate.
The Nearmap Ltd (ASX: NEA) share price has surged 92% higher this year thanks largely to an impressive half year result in February. In the first half of FY 2019 Nearmap achieved revenue of $36.3 million, up 46% on the prior corresponding period. This strong half was driven by growing demand for its offering in both the Australia and U.S. markets. The company finished the period with annualised contract value (ACV) of $78.3 million, 44% higher than the same time last year. The doubling of its ACV in the United States and a 23% increase in Australia drove the impressive ACV growth. This ultimately left Nearmap with a total subscriber lifetime value of $1.07 billion, which was an increase of 123% on the prior corresponding period. With the company looking at expanding into other territories, I suspect this strong growth could continue in the second half and into FY 2020.
The Splitit Ltd (ASX: SPT) share price has rocketed a massive 720% higher since hitting the ASX boards at the end of January. The payments company has caught the eye of investors who appear to believe it could be the next Afterpay Touch Group Ltd (ASX: APT). Splitit provides a cross-border credit card-based instalment solution to businesses and merchants. It allows consumers to pay for a product using their existing credit cards but divide the total purchase cost across as many interest-free monthly payments as they feel is necessary, up to a limit of 36 months. Debit cards can also be used, but consumers are limited to $400 of credit and must repay the balance through a maximum of three interest-free monthly payments. It certainly has had an incredible start to life on the ASX, but time will tell if it really is the next Afterpay.
