Why these ASX shares just stormed to 52-week highs // Motley Fool Australia

The S&P/ASX 200 Index (ASX: XJO) has been in fine form recently thanks to optimism over the development of potentially effective COVID-19 vaccines.

While this leaves the ASX 200 trading at its highest levels in nine months, some shares are doing even better.

Two ASX shares that have just hit new 52-week highs are listed below. Here’s why they are on fire:

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price hit a 52-week high of $4.16 on Wednesday. When the horticulture company’s shares hit that level, it meant they had gained an impressive 66% since the start of the year. Investors have been fighting to get hold of its shares this year after it finally turned around its performance after a very disappointing 18 months…