The All Ordinaries (ASX: XAO) may still be down 9% over the last 12 months, but not all shares have recorded declines over the period.
In fact, some have been such strong performers they have more than doubled in value since then.
Here are three shares which are up more than 100% since this time last year:
Kogan.com Ltd (ASX: KGN)
The Kogan share price has rocketed 184% higher over the last 12 months. A good portion of these gains have come in the last few months thanks to its impressive sales and gross profit growth. This has been driven by the pandemic accelerating the shift to online shopping. In addition to this, Kogan has announced a small bolt on acquisition and raised funds to make more acquisitions in the near future.
Mesoblast limited (ASX: MSB)
The Mesoblast share price has surged 190% higher since the time in 2019. Once again, the majority of this gain was made this year during the pandemic. Investors have been buying the biotech company's shares due to the release of promising trial results from its allogeneic mesenchymal stem cell product candidate remestemcel-L. These trials were testing the product in ventilator-dependent COVID-19 patients. Also giving its shares a boost was its recent inclusion in the ASX 200 index at the June quarterly rebalance.
Zip Co Ltd (ASX: Z1P)
The Zip Co share price is up a massive 108% over the last 12 months. Yet again, the vast majority of this gain has come in 2020. It has been driven by a combination of strong sales and customer growth during the pandemic and the announcement of its expansion into the U.S. market. The buy now pay later provider is entering the $5 trillion retail market via the acquisition of QuadPay. Investors appear confident this is a good strategy and a low risk way of entering the lucrative market.
