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Comment / WiseTech top brass put on brave face after stock gets hammered

AP
ID 16332510 © Pavel Losevsky | Dreamstime.com
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Australia’s WiseTech Global (WTC) released today strong fiscal 2023 annual results, beautifully meeting its targets for the 12 months to the end of June.

Yet the stock was hammered, down to A$69.6, -19.6% for the day.

Ouch!

About half of that fall was due to high-end Ebitda guidance for fiscal 2024 that was softer than Mr Market had expected, at around A$540m.

Go with the low end of the forward guidance, and virtually all the drop was due to that. Classic, in this market.

Figure ...

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