2 ASX All Ords Stocks Surge to All-Time Highs Despite Market Downtrend

November 22, 2023 05:05 PM AEDT | By Team Kalkine Media

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2 ASX All Ords Stocks Surge to All-Time Highs Despite Market Downtrend — Image source: shutterstock

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While the broader S&P/ASX All Ordinaries Index (ASX:XAO) experiences a 0.14% decline to 7,279.3 points, two ASX All Ords stocks are defying the market trend by reaching all-time highs.

Data#3 Limited (ASX: DTL) - Tech Share Reaches Record High

Share Price: The Data#3 Limited (ASX:DTL) share price achieved a record high of $7.88, marking a 0.64% increase in earlier trading on Wednesday.
Company Focus: Data#3 is an ASX tech share. During a recent investor briefing, CFO Cherie O'Riordan emphasized the company's focus on sustained earnings and gross profit growth rather than gross margins.
Gross Margin Details: O'Riordan highlighted that Data#3's overall gross margin has remained at or slightly below 10% over the past three financial years. Factors contributing to this include multi-year deals, annuity-based consumption, low-margin public sector and education supply contracts, and competitive market dynamics.
Strategic Moves: The company has engaged in larger, more competitive deals won at lower margins to drive future strategic business. The emphasis is on securing long-term revenue and cross-selling opportunities.

Chrysos Corporation Ltd (ASX:C79) - Industrial Stock Hits All-Time High

Share Price: The Chrysos Corporation Ltd (ASX:C79) share price reached an all-time high of $7.68, marking a 3.5% increase in earlier trading.
Company Focus: Chrysos is an ASX industrial share that specializes in creating technology solutions for the global mining industry. Its flagship product, PhotonAssay, provides high-quality analysis of gold, silver, and other elements.
Fundraising and Growth Acceleration: In a recent development, Chrysos completed a $75 million institutional placement to raise funds. The capital infusion is intended to support the deployment of PhotonAssay units and accelerate the company's growth. The institutional placement involved issuing 11.4 million new shares at an offer price of $6.60.

While the broader market experiences a mixed day with a downturn, the record highs achieved by Data#3 Limited and Chrysos Corporation Ltd showcase the resilience and strength of these individual ASX All Ords stocks.

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