WiseTech Global Shares Climb Nearly 5% After ASIC Clears Founder Richard White in Insider Trading Probe

SYDNEY — Shares of WiseTech Global rose nearly 5% on Thursday after Australia's corporate regulator cleared founder Richard White and two employees following an almost yearlong insider trading investigation, removing a major cloud over the logistics software company.

WiseTech shares were up 1.63 Australian dollars, or 4.86%, at 35.18 dollars in afternoon trading, after reaching as high as 35.55 dollars. The stock touched a low of 33.69 dollars earlier in the session. More than 1.67 million shares traded.

The gain extends a recent recovery for the stock, which has posted consecutive weekly gains after a steep decline earlier this year.

ASIC issues no-action letters

The Australian Securities and Investments Commission issued no-action letters to White and the two employees, closing its investigation into the three individuals. An investigation remains ongoing into another person who is not employed by WiseTech.

ASIC also concluded a separate corporate governance investigation into the company that began in late 2024, removing another source of regulatory uncertainty.

WiseTech chair Raelene Murphy welcomed the outcome, describing it as another step toward allowing the company to focus on creating long-term value for shareholders.

Other legal issues remain

The company still faces other legal and regulatory challenges. The Australian Competition and Consumer Commission is continuing a separate investigation after executing a search warrant at WiseTech's offices on Aug. 19, as part of an inquiry into competition and market conduct in the global logistics software sector.

No findings have been made against the company or any individual in that investigation.

WiseTech is also defending a shareholder class action concerning disclosures it made in 2019.

A punishing year

WiseTech, the developer of the CargoWise platform used by freight forwarders and supply chain operators worldwide, has been one of the worst-performing large stocks on the Australian market this year.

The shares are down more than 58% over the past 12 months and have traded between 28.66 and 86.43 dollars over the past 52 weeks.

The stock fell 8.7% on Aug. 19, the day of the ACCC search, and dropped 10.1% on Aug. 26 after the company released its full-year results.

Strong revenue, lower profit

For the 2026 financial year, WiseTech reported revenue of US$1.40 billion, up 79% from the previous year, driven largely by its acquisition of supply chain software company e2open.

However, net income fell 11% to US$178.7 million, weighed down by e2open-related costs and an AI-driven cost-cutting program that eliminated about 1,700 jobs.

The company has guided for revenue of US$1.48 billion to US$1.54 billion in fiscal 2027, implying growth of 6% to 10%, a sharp slowdown from the previous year.

Analyst views

Analysts remain broadly positive, with consensus price targets well above the current share price. However, some have trimmed their targets in recent months, citing more moderate revenue growth assumptions.

Investors will watch for developments in the ACCC investigation, progress on the e2open integration and the rollout of the company's new pricing model and AI tools within CargoWise.