WiseTech Global (ASX:WTC) shares fell sharply on Wednesday, September 2, as Australian technology stocks came under heavy selling pressure. WTC closed at A$37.65, down 5.16% for the session. The broader S&P/ASX 200 fell 0.97%, while technology stocks were among the weakest parts of the market, losing more than 3%. For WiseTech investors, however, the market sell-off is only part of the story. The company is also dealing with an ongoing ACCC investigation that remains an important regulatory risk.
Why Did WiseTech Shares Fall 5%?
The biggest immediate pressure came from weakness across Australian technology stocks.
Stronger-than-expected Australian economic data increased concerns that the Reserve Bank could keep interest rates higher for longer or potentially raise rates again. High-growth technology stocks can be particularly sensitive to rising interest-rate expectations because investors place a lower value on earnings expected further into the future.
WiseTech dropped 5.16%, while fellow technology stock Xero fell 2.47%. The broad nature of Wednesday’s technology sell-off suggests WiseTech’s decline was at least partly driven by the wider market rather than a fresh company announcement.
Why Is the ACCC Investigation Still Important?
The bigger company-specific concern is the Australian Competition and Consumer Commission investigation announced on August 19.
WTC disclosed that the ACCC had executed a search warrant and required the company to provide documents and electronic data. The investigation concerns alleged contraventions of the Competition and Consumer Act relating to the supply of global logistics services and software. WiseTech has said it intends to fully cooperate.
For investors, an investigation is not the same as a finding of wrongdoing, and no final conclusion has been announced.
Still, the probe creates uncertainty around a company whose CargoWise software holds a major position in the global logistics industry.
How Is WiseTech’s Business Performing?
The regulatory uncertainty comes despite WiseTech recently reporting strong FY26 results.
Total revenue increased 79% to US$1.396 billion, helped substantially by the e2open acquisition. Underlying EBITDA jumped 56% to US$644.5 million, while underlying net profit after tax increased 29% to US$313.5 million.
WiseTech is forecasting continued growth in FY27, although at a slower revenue-growth rate.
The company expects revenue of US$1.48 billion to US$1.54 billion, representing growth of 6% to 10%. Underlying EBITDA is expected to reach US$725 million to US$780 million, up 12% to 21%.
The business therefore remains profitable and growing, but investors are balancing those fundamentals against regulatory uncertainty and the challenge of integrating e2open.
What Should WTC Investors Watch Next?
The first thing to watch is any new information from the ACCC investigation.
Investors should also monitor whether WiseTech can deliver its FY27 guidance, successfully integrate e2open, and maintain strong margins.
Leadership is another area to watch. WiseTech announced on September 1 that Jeff Howard will become Chief Financial Officer from September 28, adding another senior executive change during an important period for the company.
Conclusion
WiseTech’s 5% decline on September 2 came during a much wider sell-off in Australian technology stocks, so the move should not be viewed as being caused solely by company-specific news.
However, the ACCC investigation remains a significant overhang for WTC.
For investors, the key question is whether WiseTech’s strong earnings growth and FY27 outlook can outweigh regulatory uncertainty and rebuild confidence in the stock.
