While many ASX shares are still well below pre-COVID levels, here are the ones hitting 52-week or even record all-time highs
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Christmas came early for the S&P/ASX 200 Index (ASX: XJO) with the index rallying more than 10% in November. While a majority of ASX shares are still below pre-COVID highs, these companies have managed to push higher into record territory.
1. Galaxy Resources Limited (ASX: GXY)
The Galaxy Resources share price has lifted more than 50% in this month alone to hit an 18-month high of $1.80. This comes off the back of President-elect Joe Biden’s plan to lead a transition to renewable energy. This includes a promise to eliminate federal subsidies to the oil industry and move to net-zero emissions by 2050. His plans have lifted sentiment for renewable related sectors including lithium miners.
2. Lifestyle Communities Limited (ASX: LIC)
Lifestyle Communities is involved in developing and managing affordable communities for working, semi-retired and retired people. It operates as land lease communities, which is a very different model to retirement villages.
There has been a broad recovery in the real estate sector ranging from retail REITs such as Scentre Group (ASX: SCG) and Vicinity Centres (ASX: VCX) bouncing off lows to industrial REITs such as Goodman Group Ltd (ASX: GMG) making new record all-time highs.
The Lifestyle share price has soared past its previous record all-time highs of $9.90 set in January 2020 to close at $10.98 last Friday.
3. Seven Group Holdings Ltd (ASX: SVW)
Seven operates a diverse portfolio of industrial services, media, property and other investments. Its recent share price run is reflective of the rotation from tech and growth to cyclical and value stocks. Seven’s last closed share price of $22.59 represents not only a 52-week high but also is cents away from a new all-time record high.
4. Wesfarmers Ltd (ASX: WES)
The Wesfarmers share price has also enjoyed the benefits of the recent rotation into value and cyclical ASX shares. Its push this month to the $49 level represents record all-time highs for the company.
Wesfarmers has experienced significant demand growth across its businesses including Bunnings, Officeworks and Catch with respective FY21 year-to-date sales growth of 25.2%, 23.4% and 114.4%.
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Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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.