With the Australian share market in such positive form, it will come as no surprise to learn that a number of shares have been pushing higher.
Some of these shares have been pushing so hard they have reached 52-week highs or better. Here's why these shares are on fire right now:
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Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat share price was on form and climbed to a 52-week high of $35.95 on Wednesday. Investors have been buying this gaming technology company's shares on the belief that it is well-placed for growth over the medium term once the pandemic passes. This is due to its industry-leading poker machines and its growing digital business. Also giving its shares a lift was its analyst briefing last week which saw management speak very positively about its recovery from the pandemic. It revealed a stronger than expected recovery and market share gains.
EML Payments Ltd (ASX: EML)
The EML share price surged to a record high of $5.80 yesterday. The catalyst for this was the announcement of the acquisition of Sentenial Limited for up to 110 million euros (~A$170.7 million). Sentenial is a leading European Open Banking and Account-to-Account (A2A) payments provider, utilising a cloud-native, API-first, full stack enterprise grade payment platform. Management sees the acquisition as an opportunity to deepen customer relationships, enter new industry verticals, and diversify its revenue streams.
Life360 Inc (ASX: 360)
The Life360 share price hit a 52-week high of $4.99 on Wednesday. Investors have been buying the family social networking app provider's shares since the release of a strong full year result in February. For the 12 months ended 31 December, Life360 reported a 39% year-on-year increase in normalised revenue to US$81.6 million. This was at the upper end of its guidance range of US$79 million to US$82 million. At the end of the period, the Life360 app had 26.5 million monthly active users, which was close to its pre-COVID high of 27.2 million. Also giving the Life360 share price a boost this year has been the appointment of Randi Zuckerberg as an independent non-executive director. She is the sister of Facebook founder Mark Zuckerberg.
