Why WiseTech Global (WTC) shares were trading higher today?
WTC +12.38%: A very strong result today from the logistics technology business which is propelling the stock rapidly towards all-time highs above $60. Revenue of $632.2 million was up +25% YoY and above consensus of $626.2 million while EBITDA of $319m was a 3% beat , plus they forecast FY23 earnings growth of at least 21% which was above the 19% currently tipped. This was a very strong result and deserved the strong bump in share price. It feels like only yesterday that J Cap released its ‘scathing’ short report when WTC was trading at ~$30!
Wondering what Market Matters are buying and selling today?
Market Matters breaks down the latest financial developments into simple, actionable opinion that our members can rely on. We give our community access to some of the most trusted financial professionals in Australia and crucially, we invest in our own portfolios – putting real money where our mouth is.
Led by James Gerrish, the Market Matters Investment Team has decades of market experience, and every day we’ll give you our take on the market. With in-depth market analytics, clear buy, hold and sell actions members can quickly see the stocks we like, the stocks we don’t and the history behind every one of our decisions.
See for yourself – take an obligation free 14 day trial of our service – here.
