Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi guys, Following reporting season, I'm in search of new opportunities. WiseTech (WTC) reached an all time high of $88.69 just before reporting in August. The share price has corrected significantly, currently trading at around $67.7. After reading their report, it seems to me the market just went ahead of itself; but it seems WTC is fundamentally still a solid growing business. What would it take for this company to be included in your hitlist? Thanks
Hi ,
We do like WTC as a business but as we operate real money portfolios at MM, like yourself, at this stage as discussed in Fridays Morning report we like Altium (ALU) for increased tech exposure following its recent strong earnings report.
Conversely WTC delivered weaker-than-expected guidance, profitability might be heading in the correct direction but the share price had built in a huge degree of optimism through 2023 with the stock gaining ~75% at its best.
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