WiseTech Global Ltd (ASX: WTC) was founded in 1994 by Richard White to provide software to the logistics sector. Since then it has grown to become a global provider of logistics software, claiming to service 19 of the top 20 logistics companies globally. WiseTech makes money by charging its customers on a ‘per use’ basis rather than as a subscription model. Meaning, WiseTech directly benefits as its customers grow their businesses.
The WiseTech Global Ltd (ASX:WTC) share price fell 3% today after the market saw its FY24 AGM update and outlook.
In this episode of The Australian Investors Podcast, Rask’s Chief Investment Officer Owen Rask is joined by Richard White, CEO and founder of WiseTech Global Ltd (ASX: WTC) – one of Australia’s most successful technology companies.
The ASX 200 (ASX: XJO) share market is having a strong day, it’s up by 1.4% to more than 7,100 points. What’s going on?
Telstra Group Ltd (ASX: TLS) gained 5 cents, or 1.3%, to $3.92, after being up 2.3% at one point, as it was perceived as benefiting from the big outage at rival Optus. In Singapore, the shares of Optus’ owner Singapore Telecom were down 5.2% on the news, and finished down 4.8% for the day.
Both the key Australian indices fell on Monday, with the S&P/ASX200 (INDEXASX: XJO) falling 0.3% and the All Ordinaries (INDEXASX: XAO) 0.4% with the technology sector the biggest detractor, down 2.8%.
The tech sector fell 1% and healthcare 0.7% as bond yields continue to increase around the world and place pressure on long-term growth companies.
Another 4% fall in the price of iron ore was almost enough to drive the S&P/ASX200 (INDEXASX: XJO) lower, with the materials sector falling 0.7% to open the week.
The local share market started the week lower, ahead of the US Federal Reserve’s two-day policy meeting, which begins on Tuesday.
A tech slide dragged the ASX indices lower on Wednesday, ahead of the US inflation data coming in overnight.
