Why these 2 ASX All Ordinaries shares are surging more than 20% today

Two ASX technology shares are leading the charge higher today.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published May 18, 2022 2:07 pm AEST

The All Ordinaries Index (ASX: XAO) is putting in another good show today, up 0.9% in early afternoon trading.

While the 1.25% intraday lift by the benchmark is laudable, these two ASX All Ordinaries shares are rewarding shareholders with far bigger gains.

A young woman pumps her fists in excitement after seeing some good news on her laptop. — Image source: Getty Images

Next-generation semiconductor developer rockets 22%

Weebit Nano Ltd (ASX: WBT) develops next-generation memory technology for the semiconductor industry.

The Weebit share price is up 19.38% at the time of writing, having been up as much as 27% earlier in the day.

Today's action sees the ASX All Ordinaries share returning a 12 month gain of 46%, while the share price is still down 3% in 2022.

With no news out from Weebit, it looks as if the company may have piqued investor interest at the International Memory Workshop taking place in Dresden, Germany this week. Weebit presented there yesterday.

As the Motley Fool reported earlier, Weebit Nano's chief scientist Gabriel Molas appeared to outline test results of Weebit ReRAM in 28nm. This was to include details about the technology's endurance and reliability at high temperatures.

Weebit's ReRAM technology is based on silicon oxide, reported to be more efficient and cheaper than contemporary flash technology.

This ASX All Ordinaries share is soaring 35% today

You won't find shareholders of AnteoTech Ltd (ASX: ADO) complaining today.

The ASX All Ordinaries share is up 33% on yesterday's close, having posted early morning gains of up to 60%.

Despite that big surge, the AnteoTech share price remains down 57% in 2022.

Investors are bidding up the share price today after the nanotechnology-focused company released a positive announcement related to the global pandemic.

AnteoTech reported that it's received European regulatory approval for its EuGeni COVID-19 Rapid Antigen Test.

As the Motley Fool reported this morning, "Management stated that the new registration is for the same core SARS-CoV-2 Ag Rapid Diagnostic Test registered in April 2021. However, this now covers multiple use claims to include combined nose and throat sampling and nasal mid-turbinate sampling."

Judging by the ASX All Ordinaries share's rocketing price, investors appear to believe the approval could have a material impact on the company's future performance.

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