WiseTech Global Ltd (ASX: WTC) dropped almost 11% on February 6 as the share price slipped to $13.89, but slightly redeemed itself as conditions improved on the S&P/ASX 200 – opening up 5% on Wednesday at $14.6.
WiseTech Global is a global software logistics company that provides software solutions to enable service providers to facilitate the movement of goods and information both within Australian and overseas.
Tuesday's substantial slide kickstarted the idea that the company may be overvalued.
Several directors maintain plenty of skin in the game, with founder Richard White controlling 53% of the company and WiseTech operating with little debt and plenty of cash assets.
But with expected FY18 revenue of $207 million to $217 million and EBITDA up 32%-39% to $71 million to $75 million it can perhaps be assumed WiseTech will meet these expectations.
One to watch as reports come in.
