3 ASX All Ordinaries shares leaping by more than 10% on Friday

Here are three ASX All Ordinaries shares that have rocketed higher.

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Key points

  • These three ASX shares are all jumping higher
  • The market is reversing some of the declines seen in recent days, weeks and months
  • Cettire, Block and 5E Advanced Materials are three of those surging higher

The S&P/ASX All Ordinaries Index (ASX: XAO) is rising 1.86% at the time of writing. There are a few ASX All Ordinaries shares that have also gone up strongly.

In plenty of cases, this is just a reversal of the declines that companies saw in the previous day(s).

But these three businesses are seeing very large gains:

Cettire Ltd (ASX: CTT)

The Cettire share price is currently up by 16.5%. However, the company is still down by 85% since the start of 2022.

Cettire is a global e-commerce player that sells luxury personal goods. It has a catalogue of around 1,700 luxury brands and 200,000 products across clothing, shoes, bags, and accessories.

The most recent news that investors have seen from the ASX All Ordinaries share was its update for the third quarter of FY22.

Year-on-year, sales revenue increased by 163% to $48.7 million, the number of active customers rose by 185% to 246,800 and the number of unique website visits soared by 269%. The company said more than 50% of gross revenue came from repeat purchasers.

Block Inc (ASX: SQ2)

The Block Inc share price is up by 14.2% at the time of writing. However, Block shares are down around 35% since listing on the ASX in January 2022.

This company is a payments business that includes Square and the buy now, pay later business Afterpay.

Block recently announced its quarterly update for the three months to 31 March 2022. It reported that transaction-based revenue rose by around 28% to US$1.23 billion. Subscription and service-based revenue increased by 72% to US$959.6 million.

However, Bitcoin revenue dropped around 50% to US$1.73 billion. This led to total net revenue falling by 22% to US$3.96 billion.

The All Ordinaries ASX share reported a net loss for shareholders of US$204 million.

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price is currently up by 11.2%. Since the company listed on the ASX on 1 March 2022, 5E Advanced Materials shares are up 7.8%. However, they are still down more than 12% since 4 May 2022.

This business wants to become a vertically integrated global leader and supplier of boron specialty and advanced materials to enable decarbonisation. It’s expecting boron and lithium products will target applications for electric transportation, clean energy, food, and domestic security.

The latest that the ASX All Ordinaries share has revealed was its update for the three months to 31 March.

It said that average boric acid prices increased by more than 50% during the first three months of the 2022 calendar year. It noted there are favourable market dynamics and “continued strong demand”.

The company wants to become an “important participant” in the US lithium market. A small-scale boron facility targets mechanical completion in the last quarter of the 2022 calendar year, after ‘breaking ground’ in April 2022.

Planning for the proposed large-scale complex is progressing.

A letter of intent has been signed for boron advanced material that focuses on industrial and military applications.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and Cettire Limited. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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