Sydney, June 26, 2026, 04:07 (AEST)
- WiseTech ended Thursday at A$31.39, falling 4.5% on the day and down 14.9% since June 19
- Short interest was 7.98%, just off its 52-week high by 0.03 percentage point
- Gross short sales reached roughly 1.5 million shares on Tuesday, making up 22% of the day’s turnover
WiseTech Global Ltd ASX:WTC faces Friday trading with short interest close to a one-year peak and 17.8 million shares traded over the last three sessions. That puts the stock in a position for another sharp swing if there’s any new update about executive chair Richard White.
The ASX cash market was still closed at the time of publication. Regular trading is set to begin at 09:59:45 Sydney time. June 26 is a standard trading day, not a holiday.
WiseTech dropped 4.47% Thursday to close at A$31.39. The S&P/ASX 200 Index (INDEXASX:XJO) was off 0.68%. The stock climbed 14.26% Wednesday after sliding 4.39% Tuesday. Volume came in at 4.58 million shares, down from 6.95 million and 6.26 million in the previous two days.
Short interest hit 7.98% on June 19, ASIC data shows, up 0.70 point in a week and just shy of the 52-week peak at 8.01%. The timing is key, as a hefty short was already set before Monday’s reports about White.
WiseTech saw around 1.5 million shares sold short on Tuesday, Bell Potter strategist Richard Coppleson said. That made up 22% of the day’s volume.
The 22% is gross flow, not the total open short position. Cboe asks for trades to be reported by the next morning, but ASIC’s table combines positions from each short seller with a lag. It isn’t clear from the latest data if Tuesday’s selling was all added to the net short book.
WiseTech shares dropped 18.44% on Monday following media reports saying Australian Federal Police are investigating White over allegations linked to a woman’s immigration status and information given for a visa application. Reuters has not been able to independently verify these reports. AFP said it would comment “at an appropriate time.” Reuters
WiseTech said Tuesday the issue involved White personally, not the company, and said there was no suggestion of any probe into WiseTech itself. It also said neither WiseTech nor White knew of any investigation. “White emphatically and unequivocally denies any involvement in or with human trafficking,” the company said.
WiseTech posted a February first-half update showing underlying profit came in 6% above consensus. It kept fiscal 2026 guidance steady. WiseTech said around 2,000 jobs will go as part of a two-year artificial intelligence overhaul. CEO Zubin Appoo said, “The era of manually writing code as the core act of engineering is over.” Reuters
Morningstar’s Roy Van Keulen is sticking with his WiseTech fair value at A$138 this week. “White remains instrumental to the company’s continued success,” Van Keulen said. He put a 15%-20% cut on that fair value if White were forced out—citing lower growth and margins. Shares ended Thursday almost 77% below his estimate, which hasn’t moved. Morningstar
Related articles: ASX:WTC
