The market appears slightly downcast on Monday. The All Ordinaries Index (ASX: XAO) is slipping 0.3% at the time of writing, no thanks to three shares posting falls of 10% and more.
So, what's weighing so heavily on the trio of stocks? Let's take a look.
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3 ASX All Ordinaries stocks plunging on Monday
The first All Ordinaries stock suffering at the hands of the market on Monday is Galan Lithium Ltd (ASX: GLN). It's tumbling 10% right now to trade at $1.08.
It follows the completion of the company's institutional capital raise, which saw $31.5 million committed to the cause.
New shares were offered to intuitional investors for $1.05 apiece under the raise, with the cash going towards the company's Hombre Mueto West project. It will also help provide contingency funding for work at its Greenbushes South project.
Also in the red on Monday is the share price of City Chic Collective Ltd (ASX: CCX). The All Ordinaries clothing retail stock is tumbling 11.7% to trade at 34 cents right now.
It comes as the company updates the market on its debt facility, the progression of its strategic review, and its trading over the 45 weeks to 14 May.
Amendments to its debt facility are expected to provide the working capital necessary to return the business to profitable growth through the next financial year. Meanwhile, the company has decided to accelerate its inventory unwind.
Finally, City Chic revealed its sales slumped 15.2% year-on-year over the 45 weeks to 14 May to $262.2 million. Though that's up 16.4% on the same period of financial year 2021.
Finally, Tyro Payments Ltd (ASX: TYR) shares are the worst performing on the All Ordinaries right now. They're plummeting 18.2% to trade at $1.25.
The fall comes as the company announced Potentia Capital Management has scrapped takeover talks with the payments provider.
Potentia previously put forward a $1.60 per share bid, which was rejected by Tyro's board.
However, the private equity firm was granted due diligence in January in hopes pouring over the ASX All Ordinaries company's books would see it up its offer.
