Wisetech shares bounce 15% on CEO departure
Marc Kennis, October 25, 2024
WiseTech shares bounced hard
Stuart Roberts from Stocks Down Under shares his views on Wisetech’s (ASX:WTC) recent developments. He highlights that Richard White, who has transformed Wisetech into a major logistics player, remains influential as a consultant. Stuart notes analysts were concerned about uncertainty, but sees the business as steady and thriving.
Stuart mentions despite personal issues affecting stock perception, Wisetech’s core operations are strong. Demand for its logistics software, such as CargoWise, is increasing as global logistics chains recover. He says Wisetech innovatively introduces data into logistics, solidifying its industry status.
Stuart predicts substantial growth for Wisetech shares, with analyst projections showing over 20% growth in the coming years. He says Wisetech’s scalability and low capital intensity contribute to its success and potential for further growth, despite being underrecognised compared to peers like ResMed (ASX:RMD).
So, is right now the time to buy Wisetech shares?
Check out the full interview below!
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