Sydney, June 10, 2026, 01:02 (AEST)
- WiseTech ended Tuesday at A$38.00, losing 4.55%. The S&P/ASX 200 slipped 0.24%.
- Macquarie put in a notice that it’s no longer a substantial holder in WiseTech. In Australia, that means its stake dropped under the 5% voting-power disclosure threshold.
- WiseTech shares are still trading on the main question of whether the company’s AI-driven restructuring and the e2open deal can bring back investor confidence.
WiseTech Global Ltd dropped on Tuesday, trailing the broader Australian market. Investors looked at another Macquarie Group ownership filing and continued to put pressure on the ASX-listed software stock.
WiseTech Global wrapped up at A$38.00, off A$1.81, or 4.55%. Shares moved between A$37.35 and A$39.56 during the session. The S&P/ASX 200 slipped 0.24% to the close in Sydney. Losers outnumbered winners across the board.
Why this matters now: WiseTech isn’t just seen as a high-growth software name anymore. Its shares are now trading as a bet on whether it can squeeze cash earnings from the e2open buy and its AI pivot, all while holding the line on governance and execution for investors.
Macquarie said in a notice signed June 9 that it and its controlled units stopped being a substantial holder in WiseTech as of June 3. According to Market Index, the filing went public at 3:52 p.m. AEST on Tuesday, which was four days after Macquarie put out a separate notice saying it became a substantial holder.
A substantial holder isn’t just any big shareholder in the usual sense. Australian rules say anyone with 5% or more voting power in an ASX-listed firm has to disclose it. Filings are also required if the stake changes or drops under 5%.
WiseTech’s guidance is unchanged after the filing. The company is still working off its February framework, which kept fiscal 2026 revenue targets at US$1.39 billion to US$1.44 billion. EBITDA is set at US$550 million to US$585 million, with an EBITDA margin between 40% and 41%. EBITDA stands for earnings before interest, tax, depreciation and amortisation, and is used to track operating profit.
WiseTech posted first-half revenue of US$672.0 million, up 76%, as the company brought e2open into the fold following the August 2025 acquisition. CargoWise revenue increased 12% to US$372.4 million. Underlying NPAT came in at US$114.5 million, up 2%.
WiseTech CEO Zubin Appoo told investors in February the company had “executed with discipline” and pointed to its AI plans as a bigger change in how software gets built. “The era of manually writing code as the core act of engineering is over,” Appoo said.
WiseTech’s AI overhaul is extensive. In February, Reuters said the company would cut around 2,000 jobs, or about one-third of staff worldwide, over two years, as it puts AI into its customer products and runs more internal AI. Shares jumped 11.1% on the news to A$47.74, but stayed well under the year’s high.
Marc Jocum, senior product and investment strategist at Global X ETFs, said then that the drop in shares seemed “governance-driven more than fundamental.” He also pointed to the company’s reaffirmed fiscal 2026 guidance as helping the underlying story. Reuters
Peer moves on the day were mixed. Xero ended down 1.07% at A$78.42. Life360 rose to A$22.00, up 1.56%. WiseTech’s fall on Tuesday looked more about the company than a sector-wide move in ASX software stocks by the time trading wrapped.
But the risk remains. WiseTech is counting on market conditions holding steady, but the company has warned that changes in industrial production or global trade could hit its outlook. Cutting staff could also mean restructuring charges. Investors are still waiting to see evidence that e2open synergies and AI savings show up in margins, not just on slides.
The tape isn’t giving much room. Shares that used to move on growth now are under pressure to show they have cost discipline. Investors are looking for tighter integration, stability in the shareholder base, and a better AI narrative.
