Australia's WiseTech rebounds after denying involvement in probe linked to founder
BUZZ-Australia's WiseTech rebounds after denying involvement in probe linked to founder ** Software maker WiseTech WTC.AX rebounds up to 18.6%, set to snap a four-session losing streak that saw the stock shed a cumulative 23%
** Stock rallies up to A$34.120, marking its strongest intraday surge since late October 2024 and leading gains across both the ASX200 .AXJO and tech index .AXIJ
** Co on Tuesday responded to media commentary, saying the alleged investigation relates to Executive Chairman Richard White in a personal capacity
** Added, no suggestion in media commentary of an investigation into WiseTech, saying not aware of any investigation as outlined in the article, and adds that White is assuring the board that he is not aware of any such investigation
** White confirmed that "he emphatically and unequivocally denies any involvement in or with human trafficking" - co
** YTD, stock down 50.6%, trailing the tech index’s 17.7% drop even as the broader market ekes out a 1% gain
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
Recent news on Wisetech Global
See all newsAustralia's WiseTech rebounds after denying involvement in probe linked to founder
Australian tech stocks hit nearly 4-week low, tracking Wall Street
Brief: Wisetech Global Says Media Reports' Alleged Investigation Relates To Richard White In Personal Capacity
Australia's WiseTech rises after company denies involvement in probe linked to founder White
Corrected: UPDATE 1-WiseTech shares tumble on news reports police are investigating founder White