If you were caught up on a busy Thursday, here are 3 things you missed on the ASX yesterday.
The S&P/ASX 200 Index (INDEXASX: XJO) gained 20.50 points (0.31%) in a solid day for the Aussie market.
1. WiseTech shares under pressure
The WiseTech Global Ltd (ASX: WTC) share price has been a top performer amongst the ASX 200 this year.
WiseTech shares have climbed 56.08% higher since the start of January, but have been under pressure in recent days.
J Capital Research recently began a campaign against the logistics software company, alleging inflated profits. The short-seller believes that WiseTech’s $400 million of acquisitions in recent years have failed to result in material gains.
For its part, WiseTech has hit back at the allegations with robust responses but the WiseTech share price remains under pressure.
WiseTech shares closed yesterday 6.83% lower at $26.58 per share having climbed as high as $38.80 in early September. They have continued to plummet today, down more than 5% in morning trade to $25.09.
2. Crown Resorts boss hits out at “activists” during AGM
Crown Resorts Ltd (ASX: CWN) made waves on the ASX yesterday as Chairman John Alexander took aim at activists’ “anti-Crown agenda”.
Speaking at the company’s annual general meeting (AGM), Mr Alexander addressed the ongoing rumours surrounding the group.
The Chairman said, “Crown does not tolerate any illegal activity by its employees or its patrons.”
The Crown Board members were all returned at the meeting despite some protest votes being recorded along the way.
3. AMP Q3 results
The Aussie wealth manager saw assets under management (AUM) climb higher to $133.2 billion during the quarter.
Another positive was boosts for AMP Capital and AMP Bank despite lower AUM in its New Zealand wealth management segment.
The AMP share price climbed 1.12% to $1.81 per share on the broadly positive result.
However, AMP shares are still down 25.82% since January in a disappointing year for shareholders.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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