WiseTech nemesis J Capital takes another stab at the logistics unicorn


China-based analyst and short-seller J Capital took another swing at ASX-listed WiseTech today as the logistics company reels from the impact of coronavirus on its bottom line.

It’s the third time J Capital has released a report critical of the Sydney-based software business, which it has shorted, in a long-running attack over the company’s growth and profitability claims.

Last week WiseTech (ASX: WTC) downgraded its revenue and earnings forecasts for the second half of FY2020, blaming coronavirus.

Its revenue guidance for Fy2020 was downgraded from $440-460 million to $420-450 million, with an even bigger hit on EBITDA, down from $145-153m to $114-132m, with founder Richard White said “the effective shutdown of China” because of the virus was “creating negative flow-on effects to manufacturing, slowing supply chains and economic trade across the world”.

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