WiseTech Global Ltd (ASX: WTC) shares have rebounded strongly in early morning trade on Tuesday.

At the time of writing, WiseTech shares are up over 5% and changing hands for $31.60 a piece.

It’s good news for investors after the stock crashed around 18% to a five-year low on Monday.

It’s been a steep and sustained share price crash for WiseTech shares, driven mostly by a tech-sector-wide sell-off and an investor rotation to more stable assets amid global volatility earlier this year. 

Even after today’s increase, WiseTech shares are still down around 54% for the year to date. They’re also over 70% lower than this time last year.

What happened to WiseTech shares this week?

WiseTech shares fell sharply on Monday after media reports that the Australian Federal Police is investigating founder Richard White over alleged trafficking matters. The matters relate to a former cleaner at WiseTech.

It has been claimed that White exploited a former cleaner’s immigration status and financial position and provided false information on a visa application. 

Investors reacted quickly and rushed to the exits.

Why is the share price climbing higher again today?

In a note to the ASX ahead of the market open this morning, WiseTech has responded to the media reports.

WiseTech said that it notes there was media commentary yesterday alleging an investigation into Richard White, reportedly relating to a visa application. The company said:

The media reports that the alleged investigation relates to Richard White in a personal capacity. There is no suggestion in this media commentary of an investigation into WiseTech.

The Company is not aware of any investigation as outlined in the article. The Executive Chair has provided assurance to the Board that he is not aware of any such investigation and also confirmed that he emphatically and unequivocally denies any involvement in or with human trafficking.

The Company will keep the market updated in accordance with its continuous disclosure obligations.

It looks like the update has helped put investors at ease, and many are buying back into the technology company’s shares this morning.

Should investors buy in the dip or stay clear of WiseTech shares?

The outlook for WiseTech shares is largely unchanged at the time of writing. Brokers and analysts are still very bullish on where we’ll see the share price travel from here.

Market Index shows that the majority of brokers (six out of seven) are very bullish on the ASX tech stock and hold a strong buy rating. The average $72.39 target price implies a potential 130% upside over the next 12 months, at the time of writing.

TradingView data shows something similar. Out of 14 analysts, 11 have a buy or strong buy rating on WiseTech shares. Another three have a hold rating. 

Their average target price is a little lower, at $67.17, but that still implies a potential 113% upside, at the time of writing. The more bullish analysts are tipping an enormous 280% upside to a maximum target price of $119.62.

It looks like it’s time for investors to snap up the shares while they’re at a rock-bottom price.

The post WiseTech shares rebound 5%, responds to media reports: Is it time for investors to buy back in? appeared first on The Motley Fool Australia.

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• Is the only way up for WiseTech shares after a 65% fall?

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Ioneer Ltd (ASX: INR) share price is having a strong day on Tuesday.

In morning trade, the ASX lithium share is up 25% to 17.5 cents.

Why is this ASX lithium share jumping?

Investors have been scrambling to buy the company’s shares today after it released a big update on its Rhyolite Ridge Lithium-Boron Project.

According to the release, the company has entered into strategic non-binding letters of intent (LOI) with the Korea Overseas Infrastructure & Urban Development Corporation and Hyundai Engineering Co.

The former is the Republic of Korea’s specialised public institution mandated by the Ministry of Land, Infrastructure and Transport (MOLIT) to facilitate and invest in overseas infrastructure and public-private partnership projects.

The latter is a leading Korean and international engineering, procurement, and construction company.

The LOI will see the parties work together to advance the development of the Rhyolite Ridge Lithium-Boron Project.

The ASX lithium share believes the project holds significant strategic value for both the Republic of Korea and the United States.

It notes that Rhyolite Ridge hosts the only known lithium-boron reserve in North America, one of two globally, and the only project of its kind in active development.

The parties intend to formalise their cooperation through the execution of Memorandums of Understanding, which are expected in July 2026.

Rhyolite Ridge Project

Ioneer reiterated that it is targeting a final investment decision for the second half of 2026, with first commercial production expected in 2029.

Once operational, Rhyolite Ridge will process ore into final products entirely on-site with annual lithium hydroxide and annual boric acid production of 27,800 tonnes per annum (tpa) and 135,500 tpa, respectively.

Commenting on the news, Ioneer’s managing director, Bernard Rowe, said:

Rhyolite Ridge has been a decade in the making — through ongoing partnerships, permitting, and financing. Working with trusted Korean partners with a track record of on-time and on-budget delivery brings us closer to breaking ground and delivering urgently needed lithium and boron.

We’re delighted to work with KIND and Hyundai Engineering and look forward to what we’ll accomplish together.

KIND’s director of plant business division, Chris Soeung Kim, spoke positively about the agreement, adding:

KIND, as a specialized PPP investment institution under the MOLIT, has been actively advancing investments in U.S. energy, infrastructure, and critical minerals projects. We view this project as a major milestone that will further strengthen bilateral cooperation and deepen the strategic partnership between the Republic of Korea and the United States.

The post Guess which ASX lithium share is jumping 15% on big news appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Broker Shaw and Partners has recently initiated coverage of ASX resources company BCI Minerals Ltd (ASX: BCI) and believes the company could more than double in value.

Major resources project nearing completion

BCI, the Shaw team says, is on the cusp of becoming Australia’s largest solar salt operation and the third largest globally via its 100%-owned Mardie Salt and Potash Project on the Pilbara coast.

In its most recent update for the March quarter, BCI said that overall construction of the Mardie project was 81% complete.

The company is expecting its first salt harvest in the coming months, with the first harvest washed and stockpiled towards the end of the year.

As of March 31, the company had invested $1.37 billion in the project, compared to its then market capitalisation of $1.1 billion, and it had liquidity of $522 million, which was about 1.6 times its further anticipated construction costs.

The company was forecasting positive operating cash flow from FY28.

Shaw and Partners said the project was progressing well.

The Mardie Project uses seawater pumped into nine sequential evaporation ponds across 115sq km of Pilbara mudflats, 80km south of Karratha. Solar and wind evaporation concentrate brine to produce 5.35mtpa of high-purity industrial salt. Residual bitterns feed a secondary potash process targeting 140ktpa of Sulphate of Potash, a premium, chloride-free fertiliser used on high-value crops.  A significant milestone was reached in March 2026 when Pond 9 hit operational brine density, marking the transition from construction project to operating asset. Two tropical cyclones temporarily diluted pond densities earlier this year, but BCI reported no material infrastructure damage. We model first salt sales from early CY27.

The Shaw and Partners analysts said the most difficult elements of the project were now complete, which were approvals, pond construction, jetty commissioning, and project finance.

Shares looking cheap

They said the company was undervalued at the current share price.

They said:

With a market cap below the replacement cost of already-built infrastructure, BCI shares are too cheap for a project with a 60yr mine life, binding customer agreements covering 62% of initial output, and infrastructure-scale cash flows approaching.

The Shaw and Partners team said BCI’s high purity product was exactly what customers were after, and the primary risk from here on in was execution.

They said:

Further delays to First Salt on Ship or a disappointing production ramp-up in FY27 would erode confidence in the Project. A sustained period of weak industrial salt prices, or underperformance at the SOP pilot, could also reduce long-term earnings upside.

Shaw and Partners has a price target of 75 cents on BCI shares compared to 37 cents currently.

BCI is valued at $1.07 billion.

The post This billion-dollar ASX resources company is tipped to jump more than 100% appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.