The All Ordinaries Index (ASX: XAO) is wobbling today, jumping from red to green. Right now, the index is recording a 0.07% gain. But its erratic behaviour hasn't discouraged these three All Ords stocks.
They're each leaping as much as 8.5% today. Let's take a look at what's bolstering them against the All Ordinaries Index's volatility.
3 All Ords shares taking off on Thursday
Incannex Healthcare Ltd (ASX: IHL)
The Incannex Healthcare share price is leaping 7.14% to trade at 22.5 cents on Thursday. And for good reason.
The developer of medical cannabinoid products announced it's received ethics committee approval for a phase one clinical study involving its proprietary multi-use, anti-inflammatory drug IHL-675A.
Pre-clinical studies have shown the drug – combining cannabidiol and hydroxychloroquine – may be able to outperform either individual drug when treating inflammation.
The first clinical study will evaluate whether the drug brings about any side effects.
Temple & Webster Group Ltd (ASX: TPW)
Incannex is joined in the green by its ASX All Ords peer Temple & Webster. Shares in the online furniture and homewards retailer are lifting 7.6% to trade at $3.83 apiece.
That's despite the company's silence. In fact, the market hasn't heard from Temple & Webster for nearly three months.
However, as my Fool colleague Zach reported earlier today, retail and consumer cyclical shares have been on a roll lately. Indeed, the retailer's stock has lifted 15% since the start of July.
Latitude Group Holdings Ltd (ASX: LFS)
Speaking of stocks on a roll, the Latitude share price is lifting 8.5% today, bringing its gains for the last 30 days to 34%. Its currently trading at $1.72.
It's another ASX All Ords share recording notable gains without releasing news. However, Latitude's recent upwards trajectory began just days after the company announced it had abandoned its plan to merge with ASX BNPL company, Humm Group Ltd (ASX: HUM).
