The All Ordinaries Index (ASX: XAO) share price struggled to gain traction on Monday, slumping 1.36% to close Monday’s session at 6,854.30 points. But not all All Ords shares suffered alongside the benchmark index.
Some posted gains of as much as 11%.
So, which ASX All Ords shares outperformed and what drove them to defy the market’s downturn? Keep reading to find out.
These ASX All Ords shares defied today’s downturn
The first ASX All Ords share posting a notable gain on Monday was Electro Optic Systems Holdings Ltd (ASX: EOS). The company’s stock soared 5.94% today to close at 53.5 cents.
Interestingly, there was no price-sensitive news from Electro Optic Systems on Monday. However, the market was informed of an S&P/ASX 200 Index (ASX: XJO) giant’s move to up its stake in the tech company.
Washington H Soul Pattinson and Co Ltd (ASX: SOL) has increased its holding in the company to 9.95%, according to an ASX release. The ASX 200 giant previously boasted 6.21% of the company’s voting power.
Fellow All Ords share Elmo Software Ltd (ASX: ELO) also posted a 1.67% gain on Monday. The cloud-based human resources and payroll software provider’s stock closed the day at $3.05.
Once again, there was no news from the company on Monday. However, only last week, Elmo revealed it had been approached by a party interested in striking an acquisition deal.
Finally, shares in ASX All Ords memory technology developer Weebit Nano Ltd (ASX: WBT) soared 11.32% to close Monday at $2.36.
As seems to be the pattern, there’s been no word to explain its upwards trajectory. Today’s gain sees it trading at its highest point since mid-September.
The post It wasn’t all bad news for ASX All Ords shares on Monday. Here are some big winners appeared first on The Motley Fool Australia.
More reading
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- Elmo share price explodes 29% on possible takeover
- 2 ASX defence shares soaring on big news today
Motley Fool contributor Brooke Cooper 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 Electro Optic Systems Holdings Limited, Elmo Software, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Elmo Software and Washington H. Soul Pattinson and Company 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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