WiseTech Global (ASX:WTC) Rallies as Board Refresh Continues – Stock News and Outlook for 28 November 2025

WiseTech Global Limited (ASX:WTC) is back on the front foot today, 28 November 2025, as the market continues to digest a string of governance and board changes following last month’s regulatory shock.

In morning trade on the ASX 200, WiseTech was among the top-performing blue chips, rising around 3% to approximately A$71.90 and leading early gains on an otherwise cautious day for the index. ^[1]

The immediate backdrop: investors are reacting to news that the logistics software group has appointed another independent non-executive director (NED), building on a broader board refresh that has followed October’s high-profile regulatory raid on its Sydney offices. ^[2]

WiseTech Global share price today – 28 November 2025

By late morning AEDT, WiseTech Global shares were:

Trading around A$72 intraday, up just over 3% compared with yesterday’s close, according to live ASX commentary. ^[3]
Extending a strong rebound this week, with Reuters data (via TradingView) noting the stock has climbed roughly 11–12% for the week and about 6.5% for November, even after today’s move. ^[4]

That recovery matters because WiseTech is still digging itself out of a deep hole. Even with the recent bounce, Reuters notes the stock remains down close to 40% year-to-date, reflecting how hard October’s governance shock hit investor confidence. ^[5]

Recent closing prices highlight just how volatile the last fortnight has been:

20–21 November: mid-A$60s after heavy selling pressure. ^[6]
24–27 November: a sharp rebound into the high-A$60s as dip-buyers and short-covering crept in. ^[7]

Today’s strength pushes the stock back towards levels last seen immediately before the October 28 raid-driven plunge – a psychologically important marker for many traders. ^[8]

Fresh governance signal: new independent non-executive director

The key catalyst markets are trading on today is board renewal, specifically the appointment of Raelene Murphy as an additional independent non-executive director:

WiseTech announced that Murphy will join the board effective 1 January 2026 and become a member of the Audit & Risk Committee. ^[9]
She brings more than three decades of strategic, financial and operational experience, and currently serves on the boards of Bega Cheese and Tabcorp, including audit committee roles. ^[10]
Following her appointment, WiseTech’s board will comprise five independent and two executive directors, with the company explicitly signalling it is still evaluating candidates for additional independent roles before the end of 2025. ^[11]

Reuters summarised investor reaction succinctly: shares rose as much as 5.7% to A$73.71, their highest level since the October turmoil, as the market welcomed another step toward a more independent board structure. ^[12]

From a governance and sentiment perspective, this is doing at least three things at once:

De-risking the founder narrative
With founder and chair Richard White at the centre of the regulatory probe, every new independent director acts as a small counterweight to “key-man risk” – which some analysis has previously estimated in the billions of dollars in implied valuation. ^[13]
Strengthening audit and oversight credentials
The fact that Murphy is joining the Audit & Risk Committee specifically signals that the board understands the heart of the current investor anxiety: controls, disclosure, and how trading in WiseTech shares has been monitored and reported. ^[14]
Delivering on earlier promises
Last week, WiseTech indicated it planned to appoint at least one additional independent director by 31 December 2025. Today’s move shows the company is executing on that commitment, rather than letting it drift into 2026. ^[15]

For a market that has been laser-focused on governance headlines, this is exactly the kind of incremental, tangible step investors had been waiting to see.

How we got here: the October raid still casts a long shadow

To understand why today’s bounce matters, you have to rewind to late October 2025, when WiseTech’s share price fell off a cliff.

On 28 October, Australia’s corporate regulator ASIC and the Australian Federal Police raided WiseTech’s Sydney offices as part of an investigation into alleged share trading by founder Richard White and three employees between late 2024 and early 2025. ^[16]

Key points from that episode:

The investigation centres on alleged trading during a blackout period and concerns about whether large share sales were appropriately disclosed. ^[17]
WiseTech confirmed the raids and said it was required to provide documents related to the alleged trading activities. ^[18]
Shares slumped nearly 17% in a single session, hitting their lowest levels in more than six months and wiping billions off the company’s market value. ^[19]

That raid came on top of an already messy backdrop:

White had stepped down as CEO in 2024, then returned later as chair, raising questions about succession and board independence. ^[20]
There had been a wave of senior executive departures, fuelling speculation about internal tensions and control frameworks. ^[21]

Unsurprisingly, commentators described October as a “turbulent month” for WiseTech shareholders, with the stock down nearly 20% over four weeks at one point. ^[22]

Today’s move does not erase that history – but it does show the market is willing to reward concrete steps that address governance and board-structure concerns.

Board renewal: more than just one new director

The appointment of Murphy is part of a broader board reshuffle that has been unfolding through November:

Michael Gregg, a long-serving director, retired from the board at the close of business on 20 November 2025, as part of an ongoing board renewal program. ^[23]
That retirement triggered changes in the composition of the Audit & Risk Committee and the Nomination Committee, further rebalancing responsibilities among independent directors. ^[24]

Taken together, shareholders are getting:

Fewer “legacy” board members tied to earlier governance questions.
More directors with explicit experience in audit, risk and ASX public company governance. ^[25]

For a company whose valuation has historically relied on a premium multiple for its logistics software moat, closing the governance discount has become almost as important as any near-term revenue or earnings surprise.

Under the hood: the business story remains intact

One reason the share price is stabilising is that the underlying business case hasn’t evaporated – which several recent analyses have highlighted.

A detailed review by Kalkine Media this week described WiseTech as continuing to build a strong commercial footprint in global logistics technology, with its CargoWise platform embedded across freight forwarding, customs, warehousing and transport coordination workflows. ^[26]

Key business themes those analysts and commentators keep coming back to:

Consistent revenue growth
WiseTech has maintained a multi-year track record of expanding its revenue base through both product development and global customer onboarding, even as markets fluctuate. ^[27]
High-margin, scalable software model
Licensing and usage-based models in logistics software tend to scale very efficiently: once the platform is built and integrated, incremental customers push margins higher. WiseTech has been repeatedly cited as an example of this kind of scalable economics. ^[28]
Solid balance sheet and low leverage
External commentary continues to frame WiseTech as financially conservative, with equity meaningfully outweighing debt and a balance sheet geared for ongoing R&D and selective acquisitions rather than survival. ^[29]

Put bluntly: the business story is about recurring revenue and global logistics infrastructure; the stock story, right now, is about governance and trust.

How analysts are framing WiseTech after the sell-off

Some brokers and media outlets have begun to float the idea that WiseTech’s October shock may have created a long-term opportunity – with suitably large caveats.

A recent note reported by The Motley Fool suggested WiseTech shares could have upside of around 45% over the next year, based on updated earnings forecasts and valuation multiples, even after modest downgrades to medium-term EBITDA estimates. ^[30]
Kalkine and other outlets have emphasised the importance of looking at revenue trends, margins, profits, capital structure and valuation multiples together, rather than focusing solely on the headline drawdown in the share price. ^[31]

It’s important to stress that these are opinions and scenarios, not guarantees. The biggest swing factor is still the outcome – and perceived fairness – of the ongoing ASIC/AFP investigation into past share trading.

Until that cloud clears, WiseTech is likely to trade as a high-beta governance story: good news on board independence and regulatory progress can spark outsized rallies, while any negative headline can quickly reverse sentiment.

Key risks and what to watch next

For readers following WiseTech Global stock on 28 November 2025, here are the main threads to track over the coming weeks and months:

Regulatory investigation updates
Any further communication from ASIC, the AFP, or WiseTech itself about the trading probe will be market-moving. A clean outcome would reduce the governance discount; escalation or charges would do the opposite. ^[32]
Board composition by year-end
The company has guided to appoint at least one additional independent director by 31 December 2025. Investors will be watching whether the board ends the year looking clearly majority-independent, with strong audit and risk credentials. ^[33]
Trading performance into FY26
WiseTech’s business is tied to global trade flows, customs changes and supply-chain complexity. Any sign that revenue growth or margins are weakening structurally – rather than just reacting to market noise – would challenge the “high-quality compounder” narrative. ^[34]
Volatility and sentiment in Australian tech
WiseTech is a heavyweight in the ASX tech cohort, so its moves often echo broader risk appetite. Today’s gain alongside other tech strength on the ASX 200 suggests that, at least for now, investors are willing to re-engage with risk after a bruising October. ^[35]

Bottom line for 28 November 2025

On 28 November 2025, WiseTech Global is trying to do two things at once:

Repair the market’s trust via meaningful board changes and a more independent governance structure.
Leverage a still-strong underlying logistics software business that remains embedded in global freight and supply-chain operations.

Today’s share price rally – driven by the appointment of a seasoned independent director to the board and Audit & Risk Committee – shows that investors are prepared to reward credible governance upgrades, even while a major regulatory investigation remains unresolved.

For now, WiseTech Global sits in that strange zone where valuation maths, governance reform, and regulatory process collide. That makes it fascinating to watch, but it also means anyone considering the stock needs to treat today’s move as one datapoint in a much longer, still-unfolding story — and not as personalised financial advice.

WiseTech wipes $1bn in a single day as Richard White faces AFP, ASIC scrutiny