Why AVITA Medical, Lovisa, & REA Group shares just hit 52-week highs

The REA Group Limited (ASX:REA) share price is one of three that have just hit 52-week highs or better…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday the All Ordinaries index returned to form and stormed 0.5% higher to 6,825.2 points.

Given the positive performance of the share market this month, it will come as no surprise to learn that a number of shares have just climbed to 52-week highs or better.

Three which achieved this feat are listed below. Here's why they are on form right now:

The AVITA Medical Ltd (ASX: AVH) share price continued its positive run and hit a multi-year high of 61.5 cents on Thursday. Investors have been fighting to get hold of the regenerative medicine company's shares this year thanks to the success of its RECELL System. It is used to prepare Spray-On Skin Cells using a small amount of a patient's own skin, which provides a new way to treat severe burns. This week the company announced a trial to test its effectiveness for the treatment of acute full-thickness skin defect. If successful this would increase its addressable market materially.

The Lovisa Holdings Ltd (ASX: LOV) share price rose again and reached an all-time high of $13.39 yesterday. The jewellery retailer's shares have been charging higher since the release of its full year results last month. Lovisa overcame tough retail conditions to deliver a 15.3% increase in revenue to $250.3 million and a 7.1% lift in EBITDA to $62.3 million. Investors also appear confident with the company's international expansion plans, particularly in the massive U.S. market.

The REA Group Limited (ASX: REA) share price reached an all-time high of $109.64 on Thursday. The property listings company's shares have been charging higher again this month after the release of positive housing market data. Earlier this month the Australian Bureau of Statistics advised that the value of new loans issued to households increased the most in five years by 3.9% to $32 billion in July. This could be a sign that the housing market rebound has started, which could mean that REA Group soon experiences an acceleration in listings volumes growth.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on 52-Week Highs

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Materials Shares

Why is this ASX lithium stock jumping to a 52-week high today?

This lithium stock is smashing the market this year despite all the doom and gloom in the industry.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
52-Week Highs

3 ASX 200 shares smashing new 52-week highs on a red-market day

These lucky shares are defying the market today.

Read more »

A piggy bank on the cloud in the blue sky symbolising a record high share price.
Share Market News

Here's why Morgan Stanley says the record-high ASX 200 has more room to run

The top broker also thinks investors should prepare for a rotation out of ASX bank stocks in 2025.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
52-Week Highs

Why is this ASX stock jumping 10% to a decade-high today?

What is getting investors excited today? Let's find out.

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
52-Week Highs

12 non-bank ASX 200 shares smashing new 52-week highs today

Do you own any of these stocks at 52-week highs today?

Read more »

A cloud with a blue arrow pointing upwards through its middle symbolising a rising asx share price
52-Week Highs

7 ASX 200 shares smashing new highs on Tuesday

Here's why these companies are hitting new 52-week highs on Tuesday.

Read more »

Hands reaching high for a trophy with a sunset in the background.
52-Week Highs

6 ASX 200 shares smashing new highs while the market dives today

Do you own any of these lucky ASX 200 stocks?

Read more »

A woman wearing a top of gold coins and large gold hoop earrings and a heavy gold bracelet stands amid a shower of gold coins with her mouth open wide and an excited look on her face.
Gold

14 ASX gold stocks unearthing fresh 52-week highs today

Do you own any of these hot gold miners?

Read more »