The All Ordinaries index (ASX: XAO) may be sliding into the red today, but that hasn't stopped some ASX All Ords shares from storming to new 52-week highs.
Four All Ordinaries shares that have just achieved this milestone are listed below. Here's why they are on a high today:
AGL Energy Limited (ASX: AGL)
The AGL share price has climbed to a 52-week high of $11.16 today. Investors have been scrambling to buy this energy company's shares since the release of an update on its earnings guidance last month. AGL has revised its guidance higher for FY 2023 and revealed that it expects its FY 2024 underlying profit after tax to more than double year over year.
Cettire Ltd (ASX: CTT)
The Cettire share price hit a new 52-week high of $3.47 on Wednesday. Investors have been buying the online luxury products retailer's shares this year after it defied the consumer spending downturn and delivered exceptionally strong sales growth. For example, for the four months ending 30 April, Cettire's sales revenue was up 122% over the prior corresponding period to $141.3 million. Judging by its share price performance, investors appear to believe more of the same is coming from this All Ordinaries share over the remainder of the year.
Life360 Inc (ASX: 360)
The Life360 share price has continued its positive run and hit a 52-week high of $8 this morning. This location technology company's shares have been racing higher over the last three months thanks to a strong quarterly update. That update revealed that Life360 achieved positive adjusted EBITDA one quarter ahead of expectations. This shift from unprofitable tech to profitable tech appears to have underpinned a swift re-rating.
Peet Ltd (ASX: PPC)
The Peet share price has reached a 52-week high of $1.36 on Wednesday. This is despite there being no news out of the real estate company for a number of months. Though, it is worth noting that Peet is undertaking an on-market share buyback at the moment, which could be boosting its shares. It also released a strong half-year result in February, revealing a 70% increase in operating profit. Investors may be expecting more of the same in August when its full-year results are released.
