Business
Here’s why the WiseTech Global (ASX:WTC) share price jumped 31% in 2020
The WiseTech Global Ltd (ASX: WTC) share price was a very strong performer in 2020 despite facing a number of challenges.
Over the 12 months, the logistics solutions company’s shares recorded an impressive gain of 31%.
Why did the WiseTech Global share price outperform in 2020?
Investors were buying the company’s shares in 2020 after its strong growth offset concerns over the pandemic, heavy insider selling, and a short seller attack.
For the 12 months ended 30 June, WiseTech Global overcame COVID-19 headwinds to deliver a 23% increase in revenue to $429.4 million and a 17% lift in earnings before interest, taxes, depreciation and amortisation (EBITDA) to $126.7 million.
Management advised that this was driven by growth from…
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