Sydney, Feb 17, 2026, 17:33 AEDT — Market closed
- WiseTech ended down 1.6%. Shares had plunged over 5% earlier before paring back much of the drop by the close.
- After surging 12.9% just a day ago in a swift rebound for tech stocks, the stock is pulling back.
- Australia’s main index edged up 0.24%. Tech names trailed the broader market.
WiseTech Global Ltd WTC.AX slipped 1.6% to A$47.34 on Tuesday, having tumbled nearly 5.6% earlier in the session before paring losses. Shares moved in a range from A$45.41 up to A$47.46, as the strong bounce in Australian tech names faded.
Investors haven’t let go of the logistics software name after its two-session surge, probing whether any rebound in tech can stick in a market still edgy over what artificial intelligence might do to software pricing and growth.
Monday’s rally had all the signs of a relief bounce after the recent selloff, with Australia’s information technology sector notching a 5.6% gain. WiseTech led the pack, MarketIndex data showed. Citi is sticking with its buy call on WiseTech, holding firm with a A$109.15 target price, according to the broker moves list from MarketIndex.
Australian stocks edged up Tuesday, the S&P/ASX 200 climbing 0.24% as gains in materials and resources nudged the index higher.
BHP surged 5.6% following its half-year numbers, propping up the benchmark even as tech gave up 0.8%, according to MarketIndex session data. The site noted a muted offshore lead with U.S. markets shut for Presidents Day, and flagged upcoming local results expected Wednesday from The Lottery Corp, Santos, and Suncorp.
Caution isn’t just hitting individual names. Deutsche Bank’s Adrian Cox and his team called the current climate a “sniper’s alley,” with investors skittish over any sector that might get shaken up by AI. Their take: “In the case of doubt, investors are selling.” Investing.com
WiseTech’s CargoWise platform serves freight forwarders as well as other logistics operators. The stock tends to react in tandem with broader swings in sentiment around high-growth software names.
The bounce isn’t exactly on solid ground. If global tech takes another hit, or if local firms strike a cautious note as reporting season unfolds, buyers could retreat fast—leaving WiseTech exposed to a fresh selloff.
WiseTech’s 2026 half-year numbers are due Feb. 25, putting the spotlight on the company’s next scheduled event.
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