WiseTech Global shares (ASX: WTC) put up a solid session on Thursday, against what was a broadly red technology sector, after Australia’s corporate regulator formally closed two separate investigations, issuing no-action letters across the board. The resolution removes a governance cloud that had weighed on the stock for the better part of two years.
The WiseTech share price rounded out the day up 2.83% at A$34.50, after touching an intraday high of A$35.28 during the session, a gain of roughly 5.2% at its peak. The move stood in sharp contrast to the broader Australian technology sector, where the Info Tech sector (XIJ) fell 3.41% on the same day.
Despite the bounce on the day, it has been a dark year for holders of WTC, who continue to nurse declines of 49.67% since the turn of 2026.
Why are WiseTech Global shares up?
ASIC confirmed the closure of two inquiries, the first was a share trading investigation, initiated in October 2025, which examined alleged trading in WiseTech shares involving founder and executive Richard White and two current employees. ASIC issued no-action letters to all three individuals, meaning no enforcement action will be pursued against any of them.
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The second was a broader corporate governance probe, which began in late 2024 and examined WiseTech’s internal governance frameworks. That investigation has also been formally closed, with a no-action letter issued directly to WiseTech Global as a corporate entity.
ASIC did note that a separate investigation into a single individual remains active, though the regulator confirmed that person is not an employee of WiseTech, limiting any direct operational or reputational exposure for the company itself.
What next?
Technically, the stock’s ability to rally more than 5% intraday against a sector-wide selloff of over 3% is a signal that the market had been pricing in at least some chance of a worse outcome. The settlement of that uncertainty, even at a modest closing gain, suggests some degree of re-rating potential if the company can now deliver consistent operational results without further governance distraction. If bulls can catch a sector tailwind, we may have a clearer picture about where markets see this.
WiseTech has a cleaner regulatory slate than it has had in nearly two years, and with the 30 day SMA now below the stock, there are signs that momentum may want to shift. The 50 day remains the next target at A$36.30, although with tech continuing to trade under pressure Stateside, and the stock having added 10% since the start of October, it could take some time for bulls to reassert more meaningfully.
