AFR: The Rich Lister who avoids risk at all costs
The Australian Financial Review writes: Richard White was almost 40 when he co-founded WiseTech Global, a ...
Australia’s WiseTech Global (WTC) released today strong fiscal 2023 annual results, beautifully meeting its targets for the 12 months to the end of June.
Yet the stock was hammered, down to A$69.6, -19.6% for the day.
Ouch!
About half of that fall was due to high-end Ebitda guidance for fiscal 2024 that was softer than Mr Market had expected, at around A$540m.
Go with the low end of the forward guidance, and virtually all the drop was due to that. Classic, in this market.
Figure ...
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