The All Ordinaries index may be up materially this year, but some members of the index have thoroughly outperformed it.
The two best performers on the index this year are listed below. Here’s why they are both up over 400% since the turn of the year:
The iSignthis Ltd (ASX: ISX) share price is the best performer on the All Ordinaries this year with a whopping gain of 545%. It has caught the eye of investors this year thanks to its successful evolution into a wholesale neobank offering digital identity and banking services for regulated businesses and financial institutions in Australia and Europe.
In addition to this, it is the only neobank offering payments, eMoney deposit taking, and identity verification across multiple jurisdictions. These developments have led to many classing it as Australia’s answer to PayPal. Another positive is that unlike many other small cap tech shares, the company expects to be profitable on an operating basis this year. At its last quarterly update iSignthis confirmed its calendar year 2019 EBITDA target of $10.7 million.
The Opthea Ltd (ASX: OPT) share price isn’t far behind iSignthis with a massive 402% gain in 2019. The majority of this gain has come this month thanks to an impressive study update from the developer of novel biologic therapies for the treatment of eye diseases. That study related to its OPT-302 combination therapy for treatment-naïve patients with wet age-related macular degeneration (AMD).
According to the release, OPT-302 (2.0 mg) combination therapy showed statistical superiority for the most accepted and sensitive primary efficacy outcome. This could potentially be a game-changer for the company as the the standard of care treatments for wet AMD and fellow treatment target Diabetic Macular Edema (DME) had sales of over US$3.7 billion and US$6.2 billion, respectively, in 2018.
Looking for the next iSignthis and Opthea? Then check out this hot mid cap growth stock which has a massive US$22 billion market opportunity and was recently rated as a buy.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.
The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019