It's been a stunning two-and-a-half weeks or so for the WiseTech Global Ltd (ASX: WTC) share price on the ASX.
On 18 November last month, this ASX 200 tech stock closed at $62.63 per share after hitting a new 52-week low of $61.49 in the same session.
Today, 17 days later, those same Wisetech shares are currently trading at $73.92, as of the time of writing. That's about 20.2% above the 52-week low we saw just two-and-a-half weeks ago.
Given the magnitude of this rebound, many ASX investors may wonder how Wisetech has managed such a stunning comeback. Let's dive into that question today.
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How is the WiseTech Global share price up 20% in 17 days?
Well, there are a few things to discuss. Firstly, November, particularly the first half of the month, was a tough time for the entire Australian market. Following the US's lead, the S&P/ASX 200 Index (ASX: XJO) fell a nasty 6.2% between 31 October and 21 November. Tech stocks were hit even harder than the broader market. Over the same period, the S&P/ASX 200 Information Technology Index (ASX: XIJ) plunged by an even more horrid 15.7%.
Since 21 November, both indexes have bounced back. But, as is often the case with these things, tech has shot higher than the broader market since. As it stands today, the ASX 200 is up 2.5% since 20 November. The ASX 200 Information Technology Index, in contrast, has rebounded 5.1%.
The Wisetech share price was evidently caught up in the sell-off, but also fully participated in the magnified rebound.
There are other developments to note, too. For one, Wisetech reaffirmed its FY2026 guidance, expecting revenues of between $1.39 and $1.44 billion and earnings before interest, tax, depreciation, and amortisation (EBITDA) of between $550 and $585 million. This was announced on, as it happens, 21 November, which probably reassured investors that the dip the company has just bottomed out on may have been a little overblown.
That was likely assisted by several brokers coming out in the subsequent days and calling Wisetech shares a buy at those depressed levels.
The Wisetech share price has historically been volatile. More recently, that volatility has been exacerbated as investors continually weigh the company's leadership and management controversies against its stellar financials. Let's see where this ASX 200 tech share heads next.
