The All Ordinaries Index (ASX: XAO) has risen 4.0% since the market closed on 9 July, but one particular ASX All Ords stock has significantly outpaced this growth.
The stock in question is 4DMedical Ltd (ASX: 4DX), a company specializing in respiratory imaging technology.
ASX All Ords stock on a ten-bagger trajectory
A ten-bagger refers to a stock that grows tenfold from its original investment within a specific period.
Although the 4DMedical's share price hasn't yet increased by 1,000% (and it may not reach that level), the company has certainly pleased its investors over the past two months.
How pleased?
Well, on 9 July, shares of the ASX All Ords stock were available for 23 cents each.
With a $10,000 investment, you could have acquired 43,478 shares of 4DMedical.
As of Friday, those shares were trading at $1.76 each.
This represents a remarkable gain of 665%.
Consequently, your $10,000 investment would have grown to $76,521.
In a mere two months!
Here’s what has been propelling the company’s rise.
What fueled 4DMedical's 665% surge?
4DMedical has announced several successes in the past two months that have significantly captured investor interest.
Focusing on the major highlights, on 1 August, shares in the ASX All Ords stock increased by 27.1% following the company's announcement of a $10 million investment from health imaging giant Pro Medicus Ltd (ASX: PME).
On that day, 4DMedical CEO Andreas Fouras commented on Pro Medicus's investment:
Pro Medicus is a global leader in healthcare, and we are thrilled to receive their support at this pivotal moment in our journey. This strategic investment positions us strongly to bring CT:VQ to market once it obtains FDA clearance.
CT:VQ refers to the company's CAT scan-based ventilation-perfusion software.
Fast-forward to September, and shares in the ASX All Ords stock surged 36.0% on 1 September after the company announced it had received FDA clearance for CT:VQ.
Just two days later, on 3 September, shares surged another 50.0%.
This substantial intraday gain occurred after 4DMedical revealed that the US Centers for Medicare & Medicaid Services (CMS) confirmed reimbursement for CT:VQ, with payments of US$650.50 per scan, effective from early September.
And on Monday, 8 September, the ASX All Ords stock closed up an additional 49.5%.