Why the 1300 Smiles (ASX:ONT) share price is smashing record highs

The 1300 Smiles Limited (ASX: ONT) share price hit another record high today despite there being no news out of the company. At the time of writing, the 1300 Smiles share price is sitting 4.26% higher at $6.85, after being as high as $6.9 in intraday trading today.

The company has had a successful 2020, with its shares rebounding strongly from the COVID-19 market rout. The 1300 Smiles share price has gained more than 43% since its lows in early March.

Bundaberg practice

One possible reason for the company’s recent strong share price performance is its acquisition of a new practice in Bundaberg. On 24 November, the company expanded its footprint further into the Wide Bay region in Queensland. The new practice adds to its two…