Sydney, Feb 4, 2026, 16:50 AEDT — After-hours
- WiseTech Global ended at A$51.25, plunging 10.7% to hit the low end of its 52-week range
- Concerns over new AI tools continued to weigh on software stocks worldwide
- Recent filings revealed new shares tied to an acquisition and additional employee share-rights grants
WiseTech Global shares dropped 10.7% on Wednesday, closing at A$51.25—a fresh 52-week low. The stock fell A$6.13 from Tuesday’s close, fluctuating between A$51.25 and A$55.35 during the session. Its 52-week range now stands at A$51.25 to A$130.50, according to Google Finance.
The decline came after intense selling in global software and data-analytics stocks, triggered by Anthropic’s rollout of plug-ins for its Claude Cowork agent on Friday. The move sparked concerns that AI might disrupt sectors of traditional software and services. “The AI trade is splitting between relative winners and losers,” said Ben Bennett, head of investment strategy for Asia at L&G Asset Management. Reuters
The theme dragged down Australia’s tech stocks, despite gains across the broader market. Xero and TechnologyOne stood out as significant losers, ABC News reported.
WiseTech’s shares have dropped to a one-year low, wiping out gains on a day when investors were already shying away from “growth” software stocks. Such declines often signal a shift in sentiment, even without any standout news driving the move.
On Feb. 2, the company lodged an ASX filing seeking quotation for 47,221 ordinary shares issued to vendors as partial payment for acquiring Centre for Customs and Excise Studies Pty Ltd. The document valued the consideration at A$56.41 per share and noted the shares are under a 12-month voluntary escrow, preventing their sale during that time.
A filing dated Feb. 2 revealed the issuance of 2,801 unquoted share rights under an employee incentive plan, covering key executives. Caroline Pham received 36 share rights, while Mark Hall was granted 2,765. The company noted these awards included base-salary equity for FY26 and one-time incentives linked to the e2open acquisition.
The new equity issues are minor, representing about 0.01% of issued capital. Yet they come at a moment when traders are especially jittery about anything that hints at dilution or fresh deal activity.
With the local market closed, the big question now is if the global software sell-off will carry over into the next session or if buyers will jump in after prices plunged to this year’s lows.
The downside risk remains. Should the AI-driven sell-off intensify, high-multiple software stocks could fall further, even absent any fresh company news — and if sentiment swings back, the recovery might be just as swift.
Related articles: ASX:WTC
