Again, I've increased my short thanks. Trade the range a bit too (sold $53.16 and bought a little back $52.16 already today, leaving me shorter overall). I have nothing against Wisetech. Its a great company. Simply very clearly over-valued against its own forward earnings/revenue guidance. Retail investors of course know better than those silly brokers with their $30.50-46.00 valuations (and those pumped up to accommodate the trading premium).
Wisetech has withstood the US tech sell down quite well I must say. However a stock always eventually has to grow to its earnings multiples or the stock come back down to reality, tech or otherwise. Its difficult shorting a stock you once owned, hence I rarely do unless they hit silly multiples. Worked well in Afterpay, BHP, Fortiscue and RIO for me.
WTC Price at posting:
$52.38 Sentiment: Sell Disclosure: Not Held
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