3 ASX All Ordinaries shares that defied today's sell-off to leap higher

We take a look at what's going on with these three ASX All Ordinaries shares.

| More on:
A graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off just like the Althea share price today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • These three ASX All Ords shares all outperformed the index today 
  • The shares range from a lithium-ion battery cell company to an online fashion retailer and medical device company 
  • The All Ordinaries Index slipped 0.65% in today's trade 

The All Ordinaries Index (ASX: XAO) fell 0.65% today, but three ASX shares charged higher.

The Magnis Energy Technologies Ltd (ASX: MNS), Cettire Ltd (ASX: CTT) and Avita Medical Inc (ASX: AVH) share prices all outperformed the index today.

Let's take a look at what impacted these three ASX All Ordinaries shares.

Magnis Energy

The Magnis Energy Technologies share price climbed 1.25% today despite no news from the company. However, Magnis' US traded OTC shares (OTC: MNSEF) climbed 2.32% overnight.

Magnis is a lithium-ion battery company with investments in lithium-ion battery cells, lithium-ion battery technology and high-performance anode materials. The company is invested in large-scale lithium-ion battery cell manufacturing projects in New York and Townsville, Queensland. In a recent investment presentation, Magnis highlighted the New York lithium battery facility has commenced commercial production. The facility is expected to produce about 15,000 cells a day at capacity.

Cettire

This company's shares leapt 2.10% today. Cettire is a global luxury online retailer. In today's news, Cettire has signed a commercial agreement with Zegna Group. Under the deal, Cettire will be able to integrate and sell products from Zegna on its platform. Customers of Cettire will have access to Zegna products in all of Cettire's markets.

Commenting on the news, Cettire CEO and founder Dean Mintz said:

We are excited about our newly announced agreement with Zegna. Zegna is a world-renowned brand with a rich history originating in the heart of the luxury fashion industry.

With this collaboration, Cettire enables Zegna's products to be directly available to a new and fast growing audience of luxury customers.

Avita Medical

Avita Medical shares jumped 1.94% today. In contrast, the ASX 200 Health Care Index (ASX: XHJ) fell 0.78%. Avita is working on a burn treatment device known as the Recell system.

Avita held its annual general meeting this week. Chairman Lou Panaccio said the company continues to be in a "strong position" when it comes to growth into new markets, corporate health and financial position. He highlighted Avita had more than US$88 million in cash reserves as at 30 September.

Motley Fool contributor Monica O'Shea 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 Avita Medical. The Motley Fool Australia has recommended Avita Medical and Cettire. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Core Lithium, Life360, Syrah, and Xero shares are jumping today

These ASX shares are ending the week on a high. But why?

Read more »

Smiling elderly couple looking at their superannuation account, symbolising retirement.
Share Gainers

These were the best performing ASX 200 shares in February

These shares were making their shareholders smile last month.

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

Why Harvey Norman, Macquarie Technology, Ramsay Health Care, and Star are rising

These ASX shares are having a strong day. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Should I buy Nvidia stock as an Australian investor?

Many Aussies are thinking of jumping on the bandwagon, but they need to think about these issues first.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rough day for ASX 200 investors this Wednesday.

Read more »

A woman's hair is blown back and her face is in shock at this big news.
Share Gainers

Why APM, DroneShield, EOS, and NextDC shares are charging higher

These ASX shares are having a strong session on Wednesday. But why?

Read more »

A happy businessman pointing up, inidicating a rise in share price
Materials Shares

Why are ASX lithium shares like Liontown having such a bumper session today?

Lithium shares are defying the broader market on Wednesday.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

This ASX All Ords stock just surged 88% in less than 3 days! Any guesses?

The ASX All Ords stock is drawing intense buying interest from investors this week.

Read more »