Local tech unicorn WiseTech Global has had more than $2bn wiped off its books on the back of an earnings downgrade, as the coronavirus outbreak wreaks havoc on global trade and the logistics industry.
WiseTech’s stock slumped more than 27 per cent after the company trimmed its full-year 2020 guidance and told shareholders that the manufacturing slowdown in China was taking a toll on its core logistics service provider customers.
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