Turned out to be a hell of a year for Kogan (still climbing too!)...not many gave them any hope, that's for sure
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Kogan.com was the best-performing Australian stock this year
Listed electronics retailer
Kogan.com was the best performing stock on the ASX All Ordinaries index in 2017, with an annual gain of more than 300 per cent.
Shares in Kogan started the year at $1.35 — a discount to their July 2016 listing price of $1.80 after the company struggled to gain traction
following an opening day fall in July last year.
Since then, the company's share price has steadily risen as it consistently beat earnings benchmarks throughout the year.
Kogan's stock
rose by more than 6 per cent in late August, when the company smashed full-year earnings expectations and announced a healthy dividend.
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Kogan's rise. Investing.com
In late October, founder Ruslan Kogan sold down a 3 per cent stake in the company at a share price of $4.25,
netting about $13 million in the process.
Yesterday's opening price of $5.82 is a gain of more than 330 per cent over the year, and leaves Kogan.com with a market capitalisation of $544 million, according to Commsec.
'We're just getting started'
The company's market cap now exceeds that of Myer, which has a market cap of $513 million after its share price more than halved this year.
Kogan.com's online model has held up against the looming threat of Amazon, as traditional retailers saw their share prices decline
amid challenging conditions for the broader industry.
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The top 10 performing Australian stocks in 2017 based on data from Market Index. Supplied
"I'm very proud of what our team has built over the last 11 years and with our pipeline of initiatives, we feel like we're just getting started," Kogan told Business Insider.
The table above shows the top 10 performing Australian stocks in 2017 based on data from Market Index, a Perth-based company which provides information on the Australian stock market.
