With just a few hours of trade on Friday, the All Ordinaries Index (ASX: XAO) is up 3.2% for the week, with five ASX All Ords stocks doing a lot of the heavy lifting.
Having spurred investor interest, these companies have gained anywhere from 10% to more than 20% since last Thursday's closing bell. (Markets were shuttered on Friday for the Anzac Day Holiday.)
And it's a nicely diversified mix of strong performers this week as well.
So, without further ado, here are five stocks charging higher into May.
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ASX All Ords stocks racing higher this week
The first outperforming ASX All Ords stock on my list for the week is logistics software solutions company WiseTech Global Ltd (ASX: WTC).
At the time of writing, WiseTech shares are trading for $95.17 apiece, up 9.9% for the week.
The WiseTech share price has been charging higher amid media speculations, confirmed by the company today, that it's been engaged in discussions to acquire e2open (NYSE: ETWO). The estimated cost to acquire the United States-based supply chain platform provider was reported to be around $3.5 billion.
Management stressed that there is currently no certainty of a successful transaction.
Which brings us to the second ASX All Ords stock racing higher this week, network-as-a-service solutions provider Megaport Ltd (ASX: MP1).
Megaport shares are currently changing hands for $11.75 each, up 12.1% for the week. With no fresh news out from the company, the momentum from Megaport's strong recovery from its recent 7 April lows of $7.66 a share looks to have legs.
Pro Medicus Ltd (ASX: PME) shares are also enjoying a strong week despite no news. The health imaging company's shares are up 12.8% since last Thursday's close, trading for $237.77.
Moving on to the fourth ASX All Ords stock leaping higher this week, we have lithium miner and diversified resources producer Mineral Resources Ltd (ASX: MIN).
Mineral Resources shares are up 16.5% for the week, currently trading for $21.24 each.
Most of those gains came on Tuesday, following Mineral Resources' third quarter update.
Investors reacted positively to management's announcement that the company isn't planning a capital raise, which would dilute the value of existing shares. Management said Mineral Resources has $1.25 billion in liquidity, which includes $450 million in cash and an undrawn $800 million credit facility, and that the miner has "a number of other levers" at its disposal to access capital.
Leading this pack
The best performing ASX All Ords stock on my list for the week is Platinum Asset Management Ltd (ASX: PTM).
Shares in the investment manager are up 20.5% since last Thursday's close, changing hands for 68 cents apiece at the time of writing.
Platinum Asset shares are up 7.1% today after gaining 11.4% yesterday.
Investors have been piling into the stock after the company announced on Thursday that it's been discussing a merger with global private investment firm L1 Capital.
Commenting on the potential merger, Platinum Asset Management CEO Jeff Peters said:
L1 Capital is a first-class manager with a strong investment track record. The potential merger provides an attractive opportunity to combine expertise and resources, and we will continue to explore if it's in the best interests of Platinum shareholders.
