3 ASX All Ords shares smashing new multi-year highs while the market sinks

Investors are sending these 3 ASX All Ords shares to multi-year highs on Thursday. But why?

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The All Ordinaries Index (ASX: XAO) is down 0.5% in late morning trade on Thursday, but that's not holding back these three high-flying ASX All Ords shares.

Shaking off any concerns over sticky inflation and extended high interest rates, investors are sending these stocks soaring to multi-year highs today.

Which companies are we talking about?

I'm glad you asked!

ASX All Ords shares flying higher

The first ASX All Ords stock hitting a new multi-year high today is Genex Power Ltd (ASX: GNX).

The Genex share price is up 1.9% today at 27 cents a share, the highest levels since 2018. That sees the Genex share price up an impressive 50% over the past 12 months, with most of those gains delivered since the end of February.

With no new price sensitive information from the company since it announced a funding extension on 13 May, investors may be buying the stock for exposure to its portfolio of sustainable energy assets.

The second ASX All Ords share smashing new multi-year highs today is Clarity Pharmaceuticals Ltd (ASX: CU6).

The Clarity Pharmaceuticals share price is up 5.1% at $4.84 a share. That sees the stock up a whopping 549% over the past 12 months. And, if the gains are maintained, it will mark a new all-time closing high.

Investor enthusiasm was stoked again today after the clinical-stage radiopharmaceutical company announced it had entered into a supply agreement with SpectronRx for the production of diagnostic copper-64 (Cu-64).

The agreement assures a seamless supply of CU-64 for Clarity's products, which are currently progressing through clinical trials.

Clarity executive chairman Alan Taylor said:

We are very excited to bring an additional Cu-64 manufacturer to our extensive and reliable network of copper radioisotope suppliers. SpectronRx will be the first private supplier of Cu-64 to join our network in the US.

Cu-64, with an ideal 12.7-hour half-life, is able to overcome the overwhelming supply restraints of other diagnostic isotopes, specifically Ga-68 with a half-life of ~1 hour and F-18 with a half-life of ~2 hours

Which brings us to the third ASX All Ords share smashing multi-year highs today, Catapult Group International Ltd (ASX: CAT).

Shares in the global sports data and analytics company are rocketing 13.6% today, currently trading for $1.76 apiece. That sees the Catapult share price up 62% over 12 months and trading at its highest levels since October 2021.

The ASX All Ords share is surging after releasing its full FY 2024 results this morning.

Highlights include a 20% year on year increase in revenue (in constant currency) to $152 million.

And the Catapult's profit margin improved by 125% from the prior year, which resulted in $7 million of free cash flow.

Motley Fool contributor Bernd Struben 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 Catapult Group International. The Motley Fool Australia has recommended Catapult Group International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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