Three All Ordinaries Index (ASX: XAO) shares are setting a brisk pace today.
Heading into the lunch hour, the All Ordinaries is up 0.3%.
Meanwhile, the Zip Co Ltd (ASX: ZIP) share price is up 4.5%, the Cettire Ltd (ASX: CTT) share price has gained 3.9%, and Argosy Minerals Limited (ASX: AGY) shares are up 6.1%.
Hereâs whatâs spurring investor interest in these All Ordinaries shares on Thursday.
Why is the Zip share price leaping higher?
With todayâs intraday gains factored in, the Zip share price is up 17% since Tuesdayâs closing bell and up a whopping 36% over the past month.
Thereâs no fresh price-sensitive news out from the All Ordinaries buy now, pay later (BNPL) share. So, it looks like investors are continuing to bid up the share price on hopes the company is indeed back on the road towards profitability.
BNPL shares have also broadly benefited in recent weeks following the lower-than-expected inflation data out of the United States. That data has raised hoped of fewer rate hikes from the US Fed. And, as youâre likely aware, BNPL shares have been walloped this year as the Fed, the Reserve Bank of Australia, and central banks the world over began to ratchet rates higher for the first time in a decade.
Which brings us to our second All Ordinaries share having a cracker of a day today, online luxury goods retailer Cettire.
Cettire share price lifts on strong growth trajectory
The Cettire share price is outperforming the All Ordinaries after the company confirmed at todayâs annual general meeting that itâs continuing to experience strong trading momentum.
In October, the company reported that its sales revenue grew 82% compared to the prior corresponding period.
Commenting on the companyâs performance, Cettire CEO Dean Mintz said:
Our business has started Q2 very strongly driven by a seasonal upswing in traffic and AOV and effective marketing execution. It is pleasing to see continued robust profit performance as we leverage our lean operating cost structure with revenue growth and attractive unit economics.
This All Ordinaries share is riding the lithium wave
Our third outperforming All Ordinaries share is ASX lithium explorer Argosy Minerals.
There have been no new price-sensitive releases from the company since 1 November, but the miner has some good buying momentum going.
Over the past month, the All Ordinaries share has soared 41%, and itâs up 110% year to date.
Argosy has been a clear beneficiary of the soaring demand for lithium. The battery-critical metal is trading near all-time highs amid booming growth in global electric vehicle production. And todayâs trading action indicates investors believe lithium demand isnât about to dry up anytime soon.
The post 3 ASX All Ordinaries shares having a cracker session on Thursday appeared first on The Motley Fool Australia.
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More reading
- Guess which ASX All Ords share is leaping 22% on ‘significant progress towards profitability’
- Up 18% today: Can the Zip share price really fight City Hall?
- Why Accent, Block, Nufarm, and Zip shares are racing higher
- Wowsers: Why the Zip share price is up 18% today
- Down 60% since late July, can Zip shares really ’emerge stronger from challenging times’?
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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Cettire Limited. 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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