4 ASX All Ordinaries shares rocketing over 10% today
S&P/ASX All Ordinaries Index (ASX: XAO) shares are down 0.26% on Tuesday amid a sell-off of bank shares and technology stocks and a buy-up of mining shares.
Meantime, these four ASX All Ordinaries companies are streaking ahead of their peers today.
Here's why.
4 ASX All Ordinaries shares smashing it on Tuesday
Brainchip Holdings Ltd (ASX: BRN)
Brainship shares are one of the strongest risers within the ASX All Ordinaries on Tuesday.
The Brainchip share price is up 11.36% to 25 cents at the time of writing.
The ASX All Ordinaries tech share is an outlier amid a 3.88% rout for the S&P/ASX 200 Information Technology Index (ASX: XIJ).
The share price boost follows news from the semiconductor company of a $1.8 million contract win in the United States.
The contract is with the Air Force Research Laboratory for neuromorphic radar signalling processing.
Brainchip shares have risen 29% over the past 12 months.
Latin Resources Ltd (ASX: LRS)
ASX All Ordinaries lithium share Latin Resources shot 21.4% higher to an intraday peak of 17 cents today.
It has since pulled back to 16 cents per share, up 8.3%.
Latin Resources shares are higher as the market celebrates the potential impact of new economic stimulus in China, which is the world's biggest producer of electric vehicles.
China held its monthly Politburo meeting yesterday and surprised the market with strong statements regarding new stimulus measures for 2025.
Stimulus in China usually leads to higher demand for resources, which tends to push up commodity values and boost the earnings of ASX miners and other exporters.
Overnight, there was a 0.42% lift in the lithium hydroxide price to US$9,489.70 per tonne and a 0.52% fall in the lithium carbonate price to US$10,536.46 per tonne.
This ASX All Ordinaries mining share is down 28.6% over the past year.
Develop Global Ltd (ASX: DVP)
Develop Global is another lithium miner benefitting from the China stimulus news today.
The Develop Global share price is up 11.76% to $2.47 in afternoon trading on Tuesday.
The company also announced the completion of a $100 million loan facility with Trafigura today.
Develop and Trafigura have also executed a five-year offtake agreement.
This ASX All Ordinaries mining share has fallen by around 17% over the past 12 months.
Firefly Metals Ltd (ASX: FFM)
Firefly is another ASX All Ordinaries lithium mining share.
The Firefly Metals share price is currently 13.07% higher at $1.142.
The stimulus news out of China is a likely contributor to Firefly's performance today.
However, investors are also likely responding to the latest round of drilling results from the Green Bay Copper-Gold Project in Canada, released today.
Firefly described the results as "spectacular".
The miner said it had drilled its best hole yet with an assay of 86.3 metres at 3.7% CuEq.
Firefly shares have shot around 115% higher over the past year.
The post 4 ASX All Ordinaries shares rocketing over 10% today appeared first on The Motley Fool Australia.
Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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