These 3 ASX All Ordinaries shares are hitting new 52-week lows today

Here's why these All Ords stocks are suffering on Wednesday.

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Kid with a brown paper bag on his head which has a sad face on it sits in front of an old style computer representing falling ASX 200 tech shares today.

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It's a rough day on the market, and these All Ordinaries Index (ASX: XAO) shares are suffering more than most.

They've each slumped to new 52-week lows on Wednesday. Let's take a look at what's dragging them downwards.

The All Ordinaries Index is down 1.23% at the time of writing.

3 ASX All Ords shares slipping to 12-month lows

Tyro Payments Ltd (ASX: TYR)

The Tyro Payments share price tumbled 20% on Wednesday from its previous close, sliding to an all-time low of 62 cents.

The downturn came after the financial technology company announced its CEO and managing director Robbie Cooke is stepping down. Cooke has provided the company with six months' notice.  

Meanwhile, Star Entertainment Group Ltd (ASX: SGR) announced Cooke will be stepping up to the top job at the casino operator in the near future, subject to regulatory approvals.

Piedmont Lithium Inc (ASX: PLL)

Another ASX All Ords share sliding to a new 52-week low today is Piedmont Lithium.  

The lithium developer's share price fell 7.9% to trade at 58 cents late morning on Wednesday. That's despite news that production at the North American Lithium project is set to restart in the first half of 2023.

Piedmont has a 25% stake in the project. The other 75% is owned by Sayona Mining Ltd (ASX: SYA).

Sayona announced the news yesterday afternoon, while Piedmont released its announcement on the restart this morning.


Finally, ASX All Ords share BWX tumbled another 5% at its intraday low to trade at 66 cents. That marks a new all-time low for the company behind skincare and haircare brands like Sukin.   

The BWX share price plummeted 40.6% yesterday on news of a capital raise offering new shares at a 48.7% discount to the stock's previous closing price. Today's fall appears to be a continuation of yesterday's sell-off.

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 Tyro Payments. The Motley Fool Australia has recommended BWX Limited and Tyro Payments. 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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