3 ASX All Ordinaries shares that defied today’s sell-off to leap higher

The All Ordinaries Index (ASX: XAO) fell 0.65% today, but three ASX shares charged higher.

The Magnis Energy Technologies Ltd (ASX: MNS), Cettire Ltd (ASX: CTT) and Avita Medical Inc (ASX: AVH) share prices all outperformed the index today.

Let’s take a look at what impacted these three ASX All Ordinaries shares.

Magnis Energy

The Magnis Energy Technologies share price climbed 1.25% today despite no news from the company. However, Magnis’ US traded OTC shares (OTC: MNSEF) climbed 2.32% overnight.

Magnis is a lithium-ion battery company with investments in lithium-ion battery cells, lithium-ion battery technology and high-performance anode materials. The company is invested in large-scale lithium-ion battery cell manufacturing projects in New York and Townsville, Queensland. In a recent investment presentation, Magnis highlighted the New York lithium battery facility has commenced commercial production. The facility is expected to produce about 15,000 cells a day at capacity.

Cettire

This company’s shares leapt 2.10% today. Cettire is a global luxury online retailer. In today’s news, Cettire has signed a commercial agreement with Zegna Group. Under the deal, Cettire will be able to integrate and sell products from Zegna on its platform. Customers of Cettire will have access to Zegna products in all of Cettire’s markets.

Commenting on the news, Cettire CEO and founder Dean Mintz said:

We are excited about our newly announced agreement with Zegna. Zegna is a world-renowned brand with a rich history originating in the heart of the luxury fashion industry.

With this collaboration, Cettire enables Zegna’s products to be directly available to a new and fast growing audience of luxury customers.

Avita Medical

Avita Medical shares jumped 1.94% today. In contrast, the ASX 200 Health Care Index (ASX: XHJ) fell 0.78%. Avita is working on a burn treatment device known as the Recell system.

Avita held its annual general meeting this week. Chairman Lou Panaccio said the company continues to be in a “strong position” when it comes to growth into new markets, corporate health and financial position. He highlighted Avita had more than US$88 million in cash reserves as at 30 September.

The post 3 ASX All Ordinaries shares that defied today’s sell-off to leap higher appeared first on The Motley Fool Australia.

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More reading

• Why Cettire, Endeavour, Global Lithium, and Whitehaven Coal are charging higher
• Founder selling $60m of shares in this ASX All Ords company not a concern … yet: fundie
• Is there an $8 billion ‘pot of gold at the end of the rainbow’ for investors in this ASX healthcare share?
• It’s not all bad news on the ASX All Ordinaries today. Here are 3 big winners
• What’s with the Magnis Energy share price on Thursday?

Motley Fool contributor Monica O’Shea 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 Avita Medical. The Motley Fool Australia has recommended Avita Medical and Cettire. 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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