The All Ordinaries index (ASX: XAO) is back on form on Tuesday following a very strong night on Wall Street.
While a good number of ASX All Ordinaries shares are pushing higher today, three have been standout performers with particularly strong gains. Here's why these All Ords shares are on fire today:
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Australian Ethical Investment Ltd (ASX: AEF)
The Australian Ethical share price is up 8.5% to $4.61. This is despite there being no news out of the ethical fund manager.
Though, with its shares down by two-thirds this year amid weakness in the fund manager industry and increasing competition in ethical investing, some investors may believe they have been oversold and are snapping them up today.
Bigtincan Holdings Ltd (ASX: BTH)
The Bigtincan share price is bouncing back after being sold off in recent sessions. At the time of writing, the sales enablement platform provider's shares are up 7.5% to 57.5 cents.
Investors have been selling down the Bigtincan share price in recent sessions after the company decided to raise capital while still the subject of a takeover approach. The selling had been so strong that even after today's sizeable gain, the company's shares are still trading below the capital raising offer price of 60 cents per new share, which was a 16.7% discount to its share price at the time.
As things stand, its suitor, SQN, hasn't withdrawn its 80 cents per share takeover proposal. Though, it was very unhappy with management's decision to raise capital.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price has rebounded from a selloff on Monday and is up 15% to $1.38. Investors were selling off this payments company's shares yesterday after takeover talks with Potentia and Westpac Banking Corp (ASX: WBC) ended.
And while there are rumours circling that Tyro may need to raise capital soon, that hasn't stopped investors from piling in today. They may believe that there's still hope that an improved takeover proposal could be tabled in future.
