3 ASX All Ordinaries shares going great guns on Tuesday

Here’s why these All Ords stocks are outperforming.

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It’s a great day to be invested in these All Ordinaries Index (ASX: XAO) shares as they surge higher to outperform the broader market.

Right now, the benchmark index is recording a 1.64% gain, but these stocks are leaving that in their dust.

They’re boasting gains of up to 12% right now. Let’s take a look at what’s spurring them along.

3 ASX All Ordinaries shares taking off on Tuesday

Weebit Nano Ltd (ASX: WBT)

All Ordinaries tech share Weebit Nano is leaping 12.24% this afternoon, trading at $2.20.

It comes as the company goes to demonstrate its ReRAM IP module publicly for the first time.

As my colleague Bernd Struben reported earlier today, the Weebit ReRAM is set to operate as an NVM memory block in a public presentation in France.

Still, the stock is 24% lower than it was at the start of the year.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price is also outperforming the ASX All Ordinaries on Tuesday. It’s trading at $2.81, 10.2% higher than its previous close.

There’s been no news from the bookmaker today. However, last week a US firm made a strategic investment into its stock.

Additionally, Goldman Sachs has slapped PointsBet’s shares with a price target of $5.78 and a buy rating, my colleague James Mickleboro reports.

The PointsBet share price has plunged 60% since the start of 2022.

Paladin Energy Ltd (ASX: PDN)

Finally, ASX All Ordinaries uranium share Paladin Energy is rocketing higher on Tuesday. It’s currently up 7.08% to trade at 60.5 cents.

There’s been no news from the stock to explain today’s gains. However, it dived 13% yesterday amid the apparent passing of the worst of the energy crisis.

Despite today’s uptick, however, the Paladin Energy share price is still 36% lower than it was at the start of this year.

Motley Fool contributor Brooke Cooper 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 Goldman Sachs and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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