UK cybersecurity firm Darktrace’s shares dive as short sellers circle

1 year ago 48

Company co-founded by Mike Lynch hit by wave of criticism of its sales, marketing and accounting practices

The value of Darktrace has plummeted to a record low after the emergence of two new short sellers betting against its business, as the British cybersecurity firm is hit by a new wave of criticism of its sales, marketing and accounting practices.

The company, which earlier this month warned of slowing numbers of new customers signing up for its artificial intelligence-led security products, has attracted the attention of Quintessential Capital Management (QCM) and the London-based Marshall Wace, one of the world’s biggest hedge funds with $60bn (£49bn) in client assets.

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