Whispir share price wisped down an untasty 15% on Thursday

Investors continue selling off tech shares today
The post Whispir share price wisped down an untasty 15% on Thursday appeared first on The Motley Fool Australia. –

Shares of Whispir Ltd (ASX: WSP) headed south on Thursday and were trading 14.9% lower at $1.25 apiece at the close of trade.

The Whispir share price ran deeper into the red through the session, gliding off its intraday high of $1.49 from the start of the trading day.

Zooming out, it’s been a difficult year for the tech company. Shares have suffered heavy losses in the last 12 months, and the downside has extended well into 2022.

What was up with the Whispir share price today?

Investors were bidding down the price of Whispir shares after the company released its activities and cash flow report for the three months ending 31 March 2022.

In its report, annualised recurring revenue (ARR) was up 24.1% year on year to $62.4 million and free cash outflows settled at $5.6 million.

Whispir also added another 82 customers for the period, which supported an 82% gain in cash receipts year on year to almost $20 million.

The company noted it was on track to meet FY22 guidance of $68 million at the upper end.

However, investors don’t appear to have carried the joy through to today’s session, with trading volume occurring at more than six times the 4-week average, all while the share price tracked down.

Meanwhile, the S&P/ASX All Technology Index (ASX: XTX) was also tracking lower today and is sitting 17 basis points down at 2,269.

Whilst it shrugged off sector weakness yesterday, it doesn’t appear to have been the same in today’s session for Whispir.

Over the last three months, the Whispir share price has trailed the broader tech sector, as seen below.

With no market-sensitive information released by Whispir today, it appears investors were selling down the Whispir share price with authority in line with sector weakness and amid the release of its quarterly earnings yesterday.

Whispir share price snapshot

In the last 12 months, the Whispir share price has faltered more than 63% and is now down 41% for the year to date.

Across all time frames, Whispir shares are in the red.

The post Whispir share price wisped down an untasty 15% on Thursday appeared first on The Motley Fool Australia.

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More reading

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Motley Fool contributor Zach Bristow 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 Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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