Thursday is a rough day to be an ASX investor. The benchmark index – the All Ordinaries Index (ASX: XAO) – is currently 1.06% lower, tumbling for the second day in a row, but some shares are bucking the trend.
Today’s slump sees the index lower than where it ended last week and 6.7% lower than it was at the start of the year.
But not all ASX All Ordinaries shares are struggling on Thursday. Let’s take a look at what’s causing these three shares to outperform.
These ASX All Ordinaries shares are in the green on Thursday
Strike Energy Ltd (ASX: STX)
The Strike Energy share price is defying the All Ordinaries sell off to post an 11.21% gain today. Right now, the company’s stock is swapping hands for 32 cents apiece.
The oil and gas company’s gain comes on the back of multi-rate test results from its South Erregulla gas discovery.
Strike CEO and managing director Stuart Nicholls commented on the results, saying:
This excellent flow testing provides additional confidence that the Kingia gas discovery at South Erregulla is a large, productive source of low-cost, low impurity natural gas, and that it can form the foundation of Project Haber’s globally competitive nitrogen-based urea fertiliser.
Weebit Nano Ltd (ASX: WBT)
The gains exhibited by fellow ASX All Ordinaries share Weebit Nano are harder to explain. Right now, the company’s share price is $2.65, 6.85% higher than its previous close.
There’s been no news from the semiconductor developer to explain its surge. However, it’s worth noting its stock rocketed 7% on Monday before tumbling 9% over the course of Tuesday and Wednesday.
Tabcorp Holdings Limited (ASX: TAH)
Finally, the Tabcorp share price is in the green for the first time this week, gaining 4.64% to trade at 95 cents.
Last week, the company split in two with its lottery and Keno business demerging to become ASX-listed The Lottery Corporation Limited (ASX: TLC).
Today, the new company’s shares are trading on a normal settlement basis for the first time after the scheme was officially implemented yesterday.