Ann: Pause in Trade, page-120

James Gerrish commentary from today's Market Matters report:

WisetechGlobal (WTC) is obviously the most topical constituent this week after falling10% yesterday before going into a trading halt following a scathing shortreport. They will be off the boards until Monday however I wouldn’t besurprised if its longer. J Capital, a US based short seller published a report that hits WTC frommultiple sides, calling out overstated revenue and profits, dodgy accountingpractices and poor governance. I spent some time yesterday reviewing their thesis and its scathing.

Whileits worth pointing out that JCAP are talking their own book, will haveinherent biases and the information they have presented could ultimately bewrong, mud generally sticks in some capacity, and there was plentythrown at WTC today. WTC will no doubt rebuff the claims and thishas more to play out, with JCAP expected to release a follow up report shortly.On first read through, many of the assertions appear we’ll founded and thereport itself is well researched. While WTC is a stock we’ve only everbeen spectators in, after reading the report today we’re happy tobe on the sidelines here – a lot more to play out with this one.