WHEN iFast Corporation's share price tumbled below S$0.80 in March 2020, amid the onset of the Covid-19 crisis, nobody seemed to realise the wealth management platform was on the brink of becoming one of the hottest growth stocks in the local market.

Before 2020 came to an end, iFast had chalked up a gain of nearly 400 per cent. By September 2021, iFast had risen more than 11 times in value from its March 2020 lows.

What was driving these gains? Quite simply, it was the company's massive earnings growth.