WTC has struggled through 2025 following personal/governance issues around founder Richard White. However, while WTC addresses the problems, it’s fundamentally business as usual. The company plans to pay up to $3.5 billion for American software firm e2open, illustrating to MM that Richard White and Co. intend to prove the disbelievers wrong through performance instead of talk – always the best way! We have covered WTC extensively over the recent months of volatility, having slowly warmed to the stock, and particularly its growth outlook with White back and fully focussed – we now like the risk/reward ~$100.
- WTC looks good value around $100, a view attested by Baillie Gifford, one of Elon Musk’s earliest backers.
We can see ALL struggling to recapture its strong performance after last week’s disappointing 1H results: MM owns ALL in its Active Growth portfolio, looking to use it as a funding vehicle for a new position in WTC.
MM is considering switching ALL into WTC
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