It's looking like this Wednesday will be another rough one for Australian investors and ASX 200 shares. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has dropped by a meaningful 0.67% and is back to around 8,425 points.
Despite this broader market drop, we have still seen quite a few ASX 200 shares clock new 52-week highs this hump day. Let's get into them.
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Six ASX 200 shares hitting new 52-week highs today
Here are the lucky six stocks that have seen new 52-week highs reached this session thus far:
| ASX 200 stock |
New 52-week high* | Current share price* |
Current gain for day* |
|
QUBE Holdings Ltd (ASX: QUB) |
$4.19 | $4.12 | 0.12% |
|
Guzman y Gomez Ltd (ASX: GYG) |
$45.47 | $45.46 | 5.24% |
|
A2 Milk Company Ltd (ASX: A2M) |
$7.42 | $7.30 | (0.14%) |
|
Light & Wonder Inc (ASX: LNW) |
$169.82 | $168.91 | 9.89% |
|
Aristocrat Leisure Ltd (ASX: ALL) |
$79.95 | $78.60 | 1.09% |
|
Ramelius Resources Ltd (ASX: RMS) |
$2.69 | $2.64 | 1.34% |
*at the time of writing
Well, it's a bit of a mystery for a few of these ASX 200 shares.
Why are these stocks at new highs today?
Take Qube. This industrial logistics share is bucking the market today despite no fresh news out of the company whatsoever. The last update we got from Qube was back on 3 February, which informed investors that the company would be delivering its latest half-year earnings tomorrow, 20 February. Perhaps investors are expecting some positive developments.
It's a similar story for gaming stock Aristocrat Leisure. This company has been hitting new 52-week highs every other day this month it seems. Yet we haven't seen any meaningful updates from the company for a while. As we posited last week, Aristocrat's ascension might come down to the love it's been getting from ASX brokers of late.
Aristocrat's peer in the gaming machine space, Light & Wonder, has, just today, announced a new "strategic acquisition". The company is set to acquire the charitable gaming assets of Grover Gaming and G2 Gaming for US$850 million in cash. Investors clearly approve of this move, going off the jumbo share price hike we are seeing.
Meanwhile, fast food chain Guzman y Gomez is scheduled to report its earnings this Friday, 21 February. So again, investors are betting that we will hear some good news from the company.
A2 Milk dropped its latest earnings report card earlier this week. With a 7.6% jump in net profits, as well as a maiden dividend, investors have been flooding back into A2 Milk all week.
Finally, gold miner Ramelius is probably experiencing its new 52-week high thanks to the galloping price of gold itself. As we covered this morning, the precious metal is once again closing in on a new all-time high of its own, with one ounce of gold now fetching close to UD$3,000.
