It may have been a reasonably disappointing session for the All Ordinaries Index (ASX: XAO), but the same cannot be said for a couple of the index's constituents.
Two ASX All Ords shares in particular stood out and were glowing a very bright green during today's trade. Here's what happened:
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Deep Yellow Limited (ASX: DYL)
The Deep Yellow share price was up as much as 16% to a high of 65 cents on Wednesday despite there being no news out of the company.
However, as you can see on the chart below, the Deep Yellow share price is still down materially from its highs of last year.
Lotus Resources Ltd (ASX: LOT)
The Lotus Resources share price was another very strong performer on Wednesday, rising up to 18% to 22 cents at one stage.
Once again, this was despite there being no news out of the company.
So why are these ASX All Ords shares rocketing higher?
Well, recording very strong gains today is not the only thing the two ASX All Ords shares have in common. They both also provide investors with exposure to uranium.
And with analysts at Bank of America saying that there's a bull market underway in uranium, investors appear to have been jumping in feet-first today.
This bull market looks set to be underpinned by governments around the world announcing or confirming commitments to include nuclear in their energy portfolios.
This is in an effort to create energy independence, as well as reduce their carbon footprint.
All this bodes well for Deep Yellow and Lotus Resources as they look to develop their uranium operations.
The good news for shareholders of Deep Yellow is that one leading broker appears to believe that more gains could be on the way.
Analysts at Bell Potter currently have a speculative buy rating and $1.05 price target on its shares. This implies over 60% upside for investors even after today's heroics.
