With the Australian share market hitting an 11 and a half year high on Wednesday, it will not be a surprise to learn that a good number of shares are trading at 52-week highs or better.
Three top shares that have just reached this milestone are listed below. Here's why they are on a high:
The Appen Ltd (ASX: APX) share price continued its positive run and reached an all-time high of $30.47 this morning. When the shares of the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence reached that level, it meant they stretched their year to date gain to a staggering 138%. Investors have been buying Appen's shares due to its strong full year result and very positive outlook due to its integral position in an artificial intelligence market which is expected to explode over the next decade.
The InvoCare Limited (ASX: IVC) share price climbed to a 52-week high of $16.55 on Wednesday. After a shaky time in 2018 due to difficult trading conditions, the funeral company's shares have bounced back to life in 2019. This has been driven by improving trading conditions and a severe flu season. In addition to this, last month the company advised that one of its directors has been buying shares on market. This could be interpreted as a sign that things have continued to go well for InvoCare since its last update.
The Telix Pharmaceuticals Ltd (ASX: TLX) share price raced to an all-time high of $1.42 today. This latest gain has been driven by news that the clinical-stage biopharmaceutical company has signed a master product distribution agreement that covers the manufacturing and distribution of Telix's products in the Latin America market. Also supporting the strong share price gain in 2019 has been the significant potential of the portfolio of oncology products it is developing that address unmet medical needs in renal, prostate, and brain cancer.
