Best Performing Stocks on the ASX for May

The ASX 200 recorded a 1% rise over the last month, perhaps the most notable winner being Lynas Corporation Ltd [ASX:LYC] with a 54% gain. Today we will be looking at some of the lesser known stars, and what has been driving the best performing stocks on the ASX for May. From AI to lithium, there were a handful of big winners that had major share price gains during this period.

Nerve regeneration – Orthocell Ltd [ASX:OCC] share price has stellar month

Orthocell shares had an excellent month, up 258.33% at time of writing. Much of this movement can be traced back to an 8 May announcement that revealed that four patients had successfully completed a nerve regeneration clinical trial. The trial was designed to test the efficacy of its CelGro® product which is a collagen medical device platform for soft tissue regeneration and repair.

AI enhanced pain assessments – Painchek Ltd [ASX:PCK] shares respond to deal

Painchek shares had a strong month as well, with a 207% gain in a 30-day window, at time of writing. Playing a key role in its rise was an announcement that the company had signed an agreement with a UK-based software company for the distribution of its artificial intelligence (AI) enhanced product. Painchek’s product for mobiles and tablets is designed to identify the presence of pain in dementia sufferers by looking at micro-expressions — people who suffer from this disease are not always able to effectively communicate that they are in pain. More ASX-listed AI stocks are discussed in this free report.

IoT sensors – CCP Technologies Ltd [ASX:CT1] share price doubles

CCP has had a middling year, but a good month (up 200% at time of writing). The Internet of Things (IoT) technology company markets its smart sensors for temperature-controlled environments. In May it announced a deal with a US casino which it anticipates will boost revenue by around 10%. It also announced shortly thereafter it had successfully completed a trial at Monash University for a new ‘premium monitoring solution’ for biological assets.

Major new lithium discovery – shares of Liontown Resources Ltd [ASX:LTR]  shoots up 175%

Liontown shares have almost doubled in value in the past month, up 175%, at time of writing. This comes on the back of a big lithium find in at their Kathleen Valley lithium-tantalum project in Western Australia. This was followed by a record intercept at the same project — adding further impetus to Liontown’s share price. If you are interested in lithium plays, you can learn more about how to invest in the exciting resource in this report.

Regards,

Lachlann Tierney
For Money Morning