It's turning out to be a bit of a disappointing day for the ASX share market so far this Thursday. At the time of writing, the All Ordinaries Index (ASX: XAO) has slipped by 0.32% after falling by as much as 0.4% earlier this morning. But that doesn't mean all All Ords shares have had a bad hair day today.
So let's talk about two All Ords shares that have just smashed new 52-week highs this session.
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2 ASX All Ords shares that just hit a new 52-week high
Mesoblast Ltd (ASX: MSB)
Mesoblast shares have had a very interesting day. The All Ords healthcare share gave an important update to investors this morning just before market open.
As we covered earlier today, the United States Food and Drug Administration (FDA) has given a Regenerative Medicine Advanced Therapy designation to Mesoblast's rexlemestrocel-L. This treatment targets chronic back pain.
Mesoblast stated that it is now looking forward to marketing its product to US markets.
On this news, the Meobalast share price rocketed out of the gate this morning, climbing as high as $1.33 a share – the company's new 52-week high. However, investors seem to have gotten cold feet as the day has progressed, with Mesoblast shares now down by 2.93% at $1.16 each.
Elmo Software Ltd (ASX: ELO)
All Ords technology share Elmo is another interesting company to watch this Thursday. It's actually the company's last day of trading on the ASX after the Supreme Court of New South Wales gave the green light for Cookie Monster AcquireCo Pty Ltd, an entity of K1 Investment management, to acquire Elmo in full (there seems to be some Sesame Street fans involved here).
After today's session, Elmo shares will leave the ASX. All Ords investors are to receive $4.85 in cash for every Elmo share held. Otherwise, if investors elected to receive scrip instead of cash, they will be issued with shares in Cookie Monster Holdings.
It appears the markets are sending Elmo shares out with a bang, with the company hitting $4.85 per share just after market open this morning, which is Elmo's new 52-week high. The shares are hovering just below that at $4.84 at the time of writing, up by 0.21% so far today:
