When reviewing some of the best performers of the ASX All Ords in FY24, it can seem deceptively easy to make major money on the share market, can't it?
While past performance is never a guarantee of future performance, let's take a look at some of the ASX All Ords shares that went gangbusters in FY24, delivering some mesmerising share price gains.
5 ASX All Ords shares that skyrocketed in FY24
Clarity Pharmaceuticals Ltd (ASX: CU6)
ASX All Ords healthcare share Clarity Pharmaceuticals screamed 674.29% higher in FY24. Excitement is building around Clarity's highly targeted radiopharmaceuticals that can be used for both the diagnosis and treatment of serious diseases, including cancer.
The bulk of the stock's meteoric price rise in FY24 began in April. The company announced that the first patient ever to be dosed with two cycles of 67Cu-SAR-bisPSMA at 8GBq achieved a complete response to treatment based on RECIST criteria. That meant the patient had maintained undetectable levels of prostate cancer for almost six months.
Droneshield (ASX: DRO)
The share price of ASX All Ords defence company Droneshield went skyward in FY24, rising 647.83%.
The stock got a substantial lift in January after the company launched its Expeditionary Fixed-Site (EFS) Kit for the DroneSentry-X Mk2, which provides AI-driven detection, identification and defeat capabilities for mobile and expeditionary uses.
Another game-changing announcement came in May when Droneshield revealed a repeat order of A$5.7 million from a US Government customer for several of its CUxS (Counter-UxS) systems.
Spartan Resources Ltd (ASX: SPR)
ASX All Ords gold miner Spartan Resources (formerly known as Gascoyne Resources) had a fantastic year in FY24, with the share price rising 482.35%. Spartan owns the Dalgaranga Gold Project, located 65km northwest of Mt Magnet in Western Australia's Murchison Region.
The stock moved up steadily all year but got a good bump in March when the company released assay results showing the Never Never Gold Deposit was 1km deep. In May, further drilling results also excited the market and put the stock on a steeper upward trajectory through to the end of FY24.
Nuix Ltd (ASX: NXL)
ASX All Ords technology stock Nuix edged higher all year, racking up a 262.35% share price gain for FY24.
The analytics and intelligence software provider released a bullish FY24 earnings update in May. Nuix was forecasting that its FY24 statutory earnings before interest, taxes, depreciation, and amortisation (EBITDA) would increase by more than 35% to be in the range of $47 million to $52 million. Just two weeks later, the company updated those forecasts again and is now expecting EBITDA of $55 million to $60 million.
Zip Co Ltd (ASX: ZIP)
Shares in this ASX All Ords buy now, pay later (BNPL) company zipped 256.1% higher over the course of FY24.
The stock began a gradual lift in value from October, brought about by strong first-quarter results. The Zip share price got another boost on the back of the half-year update released in January.
But it wasn't all smooth sailing. The BNPL stock gave back 10.5% of its gains on 16 April, the day it released its third-quarter results. The Zip share price then recovered to finish the year a few cents shy of its 52-week high.
