Shares in A2 Milk surged to a new record yesterday as investors, particularly those in Australia, continue to show bullish appetite for the alternative milk firm that has been the top performer on the S&P/NZX 50 this year.
The stock, which is listed on both sides of the Tasman, traded as high as $1.27 - a 16.5 per cent gain on the opening price - before closing up 11.9 per cent at $1.22 last night.
More than $47 million worth of shares changed hands in 381 trades.
A2 shares have gained more than 60 per cent this month, and 112 per cent in the year to date.
The company has been riding a wave of Australasian investor enthusiasm for businesses in the infant formula and natural health products sectors.