Business
Under attack! Why the WiseTech Global (ASX:WTC) share price is down 9%
Among all the shares on the S&P/ASX 200 Index (ASX: XJO), WiseTech Global Ltd (ASX: WTC) is leading the losses today. At the time of writing, the WiseTech share price is down 8.38% to $30.19 a share.
On Friday last week, WiseTech shares closed at $32.40, but opened at $30.98 this morning and have been trending lower all day. Even after this drop, however, WiseTech shares are still up a hefty 57% since 12 August. So why this dramatic fall for WiseTech today?
Why WiseTech shares are plummeting today?
WiseTech is known for its volatility, but also for its status as one of the ASX’s WAAAX stocks, the name given to the group of some of the ASX’s highest-flying tech shares.
Today’s moves seem to be the result of a new short-seller…
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