Up 59% in a month, guess which ASX All Ords share just hit another multi-year high

The ASX All Ords share returned to the ASX from a trading halt on 2 February and marched 59% higher over the month.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published March 2, 2023 3:11 pm AEDT

The All Ordinaries Index (ASX: XAO) is down 5% over the past month.

But you can't point the finger at this ASX All Ords share.

The Weebit Nano Ltd (ASX: WBT) share price has been on a tear over the last month, up 59%.

In earlier trading today, shares in the memory and semiconductor technology company were up 5%, marking a fresh multi-year high.

In fact, you'd have to go back to 2012 to find the All Ords share trading at a higher valuation.

The Weebit Nano share price has slid in intraday trading since notching that new milestone. Shares are currently down 3.8%, changing hands for $7.86 apiece.

At the current share price, the company has a market cap of $1.4 billion.

A young woman raises her hands in joyful celebration as she sits at her computer in a home environment. — Image source: Getty Images

What's piquing investor interest in the ASX All Ords share?

A lot has gone right for Weebit this month.

On Monday, 27 February, the ASX All Ords share reported on its United States roadshow presentation. The company profiled its embedded resistive random-access memory (ReRAM) – next-generation non-volatile memory (NVM) technology.

(Quite a mouthful, I know!)

Noting that geopolitics is driving countries to invest tens of billions of dollars locally into developing their own semiconductors, Weebit highlighted that memory comprises more than a third of the spending.

The ASX All Ords share closed up 10.3% on the day.

And February commenced well for Weebit.

Its shares were placed in a trading halt on 27 January following an administrative error. But Weebit returned to the ASX boards after seeking court orders from the Supreme Court of New South Wales.

The stock closed 5.5% higher on the day.

Weebit Nano share price snapshot

As you can see in the chart below, the Weebit Nano share price is up an eye-popping 141% so far in 2023.

Over the past 12 months, the ASX All Ords share has gained 182%.

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