Cloud-based logistics software business WTC slipped -1.3% on Monday, following a tough session for the Tech Sector, which as a group fell -0.7%, compared to the Financials, which closed up +1.5%. We are attracted to WTC into dips with its risk/reward attractive under $90, or ~6% lower, but it’s hard to chase into strength at this stage of the cycle. This business continues to deliver for shareholders, driven by Founder and CEO Richard White, who still owns over 39% of the company even after just selling $23.4mn worth of stock – definitely not a selldown to concern shareholders.
- We believe WTC is a quality business, but the risk/reward is not attractive ~$100.
MM is neutral towards WTC ~$100
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