WiseTech Global’s stock fell 11.5% to A$38.37 on Wednesday after the Australian Competition & Consumer Commission executed a search warrant, seeking documents and electronic data tied to the company’s logistics software and global supply chain services.
The raid, conducted under the Competition and Consumer Act 2010, marks an escalation in regulatory scrutiny of the company’s operations. WiseTech said it would fully cooperate with the investigation but declined to specify which aspects of its business were under examination. The stock, which had already traded near its 52-week low of A$28.76, briefly touched session lows within ten minutes of the news.
The company’s 52-week high stands at A$116.50, reflecting the sharp decline from its peak. WiseTech is scheduled to release full-year results for the fiscal year ending June 30, 2026, on August 26, 2026.
The broader Australian equity market extended its losing streak to six consecutive sessions, pressured by a weak session on Wall Street and remarks from Reserve Bank of Australia deputy governor Andrew Hauser. WiseTech emerged as one of the session’s worst performers on the ASX amid the dual headwinds of regulatory uncertainty and macroeconomic sentiment.
