How WiseTech silenced the shorts and converted non-believers
It has become one of Australia’s most successful tech stocks, but it was almost derailed when a significant number of investors believed damning short seller allegations.
When short seller research firm J Capital lobbed its first of three bombshell reports about global logistics tech company WiseTech in mid-October 2019, investors panicked.
The company’s shares plunged more than 21 per cent between the release of the first report and its emergence from a trading halt a few days later – a reaction that seemed reasonable, given the nature of allegations raised about the multibillion-dollar company.
Yolanda RedrupRich List editorYolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
