These ASX shares have more than doubled in value in 2020

The All Ordinaries index has been in fine form recently and has managed to narrow its year to date decline to just 1%.

Considering how far we fell at the height of the pandemic, this certainly is an incredible turnaround.

While the All Ords is still down slightly in 2020, the same cannot be said for some index constituents.

Two ASX shares that have more than doubled in value this year are listed below. Here’s why they are on fire:

Macquarie Telecom Group Ltd (ASX: MAQ)

The Macquarie Telecom share price is up a massive 130% since the start of the year. Investors have been buying the data centre and telecom company’s shares this year due to its strong performance in FY 2020 and positive outlook. This has been driven largely by…