SYDNEY, June 29, 2026, 00:04 AEST
- WiseTech finished Friday at A$31.55, up 0.51% for the session. The stock is still down around 14.5% compared to the close a week earlier.
- ASIC short data had 8.36% of shares sold short as of June 22, or about 28.1 million shares.
- The ASX is set to reopen later Monday, with regular trading scheduled to begin just ahead of 10 a.m. Sydney time.
- The stock is still at a growth multiple, even after dropping nearly 74% from its 52-week high.
WiseTech Global Ltd ASX:WTC goes into Monday with short sellers holding around A$887 million against the stock as of Friday’s close. It’s a heavy short position with the shares just 9.7% above their 52-week low set last week.
The logistics software company closed at A$31.55 on Friday, picking up 16 cents. Shares changed hands between A$30.06 and A$31.83 through the session. Trading volume hit 4.62 million, more than double the Google Finance average of 2.24 million. Market cap stood at A$10.60 billion.
WiseTech ASX:WTC dropped hard this week. Shares sank from A$36.88 on June 19 to A$31.55 at the June 26 close, down about 14.5%. On Tuesday, the stock hit a 52-week low of A$28.76. It then rebounded sharply on Wednesday, but that rally didn’t hold. Another round of selling came through on Thursday.
The focus has shifted to the short book. ShortInterest.au, tracking ASIC short-position reports with a four-day lag, had WiseTech short interest at 8.36% as of June 22, a gain of 0.95 percentage points over seven days and now at a 52-week high. Shorted.com.au, using the same ASIC data, counted 28.1 million shares short.
That’s almost as much as last week’s total trading volume. Over June 22 to June 26, ASX data from StockAnalysis shows about 28.8 million WiseTech shares traded. The short position stacks up to a single crisis week’s worth of volume just sitting as open bearish bets.
WiseTech shares dropped 18.4% to A$30.08 on Monday, hitting their lowest close since June 2021, after news outlets reported that the Australian Federal Police is investigating executive chairman Richard White in a case involving a woman’s immigration status and visa application. Reuters couldn’t independently confirm those stories. The AFP told Reuters it would comment “at an appropriate time.” WiseTech wouldn’t comment to Reuters. Reuters
WiseTech said in a notice to the ASX that the news articles were about White’s personal life. The company said there was “no suggestion” it was under investigation and that it hadn’t heard of any probe like the one described. WiseTech said White gave the board his word he didn’t know of any investigation and “emphatically and unequivocally” denied any part in human trafficking.
Short interest data is important since ASIC’s numbers come in late. The 8.36% figure covers June 22, but doesn’t say if shorts increased after the move higher or closed out before Friday. The following ASIC report will reveal if the A$30 level attracted new short sellers or if some funds locked in gains.
S&P/ASX 200 (INDEXASX:XJO) gained 15.5 points, or 0.18%, on Friday, finishing at 8,764.2. Still, the index lost 64.5 points, down 0.73% for the week. The broader market didn’t shield WiseTech from its decline, which traders saw as about company risk, not index moves.
WiseTech’s valuation is still high. Google Finance shows a price-earnings ratio of 44.87 after Friday, even with the stock trading 73.99% under its 52-week high of A$121.31. That gap is where the trade sits: investors are betting on steady long-term earnings from software, while short sellers see risks around governance and the founder.
Morningstar’s Roy Van Keulen kept his A$138 fair-value estimate unchanged in a June 23 note. Van Keulen said he didn’t see the reported investigation as a risk to White’s job at WiseTech. “White remains instrumental,” he wrote. Van Keulen added that forcing White out could mean a 15%-20% drop in fair value. Morningstar
WiseTech figures push bulls to point at growth. In February, it posted first-half revenue of $672.0 million, up 76%. CargoWise revenue hit $372.4 million, a 12% rise. EBITDA climbed 31% to $252.1 million. Organic EBITDA margin stuck at 51%.
WiseTech CEO Zubin Appoo told investors that about 95% of CargoWise customers had already switched to the new commercial setup, with e2open cost savings reaching a $50 million annual run-rate almost 18 months ahead of schedule. “The era of manually writing code as the core act of engineering is over,” Appoo told Reuters in February. WiseTech plans to cut around 2,000 jobs over two years.
ASX cash trading goes from 09:59:45 to 16:00 in Sydney, after a pre-open that starts at 07:00. The exchange’s 2026 trading calendar gives June 8 as the market holiday for June, rather than June 29.
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