Business
Here’s why the NAB (ASX:NAB) share price just hit a 52-week high
The National Australia Bank Ltd (ASX: NAB) share price continued its positive run and pushed higher again on Tuesday.
In fact, at one stage on Tuesday, the banking giant’s shares hit a 52-week high of $27.10.
When the NAB share price hit that level, it meant it was up an impressive 56% over the last six months.
Why did the NAB share price hit a 52-week high?
Investors have been buying NAB shares since the release of its first quarter update last month.
That update revealed that the bank has returned to profit growth, with cash earnings rising 1% over the prior corresponding period (which was COVID-free) to $1.65 billion.
This result…
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