AUS
NZ
UK
CA
USA
IND
Highlights
On Tuesday, the benchmark index rose 1.4% to 6,523.8 points.
The ASX All Ordinaries index ended 1.38% higher.
The ASX 200 VIX, which measures the implied volatility of ASX 200 options, was also down 11.08% to 20.68.
Australian shares traded on a strong note on Tuesday on account of gains in the Energy, Financials and Consumer Staples sectors. The ASX 200 VIX, which measures the implied volatility of ASX 200 options, was also down 11.08% to 20.68.
On Tuesday, the benchmark index rose 1.4% to 6,523.8 points. Similarly, it was a good day for investors to be invested in ASX All Ordinaries shares as the index ended 1.38% higher. There were stocks which even outperformed the market and surged as high as 9%. These shares mainly gained on account of upbeat market sentiment.
On this note, let’s discuss why these three ASX All Ordinaries shares rose more than 9% on Tuesday:
Weebit Nano Ltd (ASX:WBT)
Weebit Nano is a public semiconductor IP company. It develops Resistive Random-Access Memory technologies – a specialised form of non-volatile memory for the semiconductor industry.
Shares of Weebit surged 9.18% on Tuesday. However, the stock is still lower by over 20% since the start of the year.
The shares of the company charged higher after it announced that it would hold the first public demonstration of its ReRAM IP module. The company intends to show the technology’s real-world capability as a “non-volatile memory (NVM) integrated into an actual subsystem”.
PointsBet Holdings Ltd (ASX:PBH)
PointsBet Holdings provides sports, racing, and iGaming betting products and services through its cloud-based technology platform.
Shares of PointsBet surged 9.02% on Tuesday. However, the stock has plunged over 60% since the start of the year.
The stock’s surge on Tuesday came without any price-sensitive news by the bookmaker. However, last week, a US-based company made a strategic investment in PointsBet. According to the announcement, SIG Sports Investment Corp (SIG) invested US$94.16 million into PointsBet via a placement of shares.
Paladin Energy Ltd (ASX:PDN)
Paladin Energy is a Western Australian based uranium production company. It currently has one operating mine in Africa: the Langer Heinrich mine in Namibia.
Shares of Paladin surged 7.96% on Tuesday. However, the stock is still lower by over 35% since the start of the year.
There was no price-sensitive news from the uranium company on Tuesday.
RELATED ARTICLE: MFG, FMG, PTM: ASX All Ordinaries stocks paying decent dividends
RELATED ARTICLE: This ASX mineral explorer is up 600% in six months, beats benchmark index
