Way back on 12th January 2004 I recommended the shares of a tiny internet retail company at just 5.75p per share. That year the shares of ASOS (ASC.L) ended at 94p, up 1600% plus. They have subsequently become one of the UK’s stars in their business. The shares have been as high as £75.70p each, that was in March last year.
However, they have since reacted to a poor trading report, and have fallen back to a lower £22.17p on the trading day after Christmas 2018, before recovering to around the £28 level currently.
At that price this company’s shares, after the recent profit warning, are very expensive for private investors, but they do make an appealing trading counter for the very brave punter.
I do understand that a number of brokers see the shares rising back up through the £40 level again in the near future.
Just think of that bargain 15 years ago – it never pays to be surprised at ASOS.