A prominent UK cybersecurity stock is under attack from short sellers. Here's what you need to know
Publishing timestamp: 2023-02-06 08:55:54
Summary
Darktrace, a U.K. cybersecurity company, was targeted in a short seller report from New York-based asset manager Quintessential Capital Management. The report raised concerns over the company's accounting and its connections to Mike Lynch, a tech tycoon facing U.S. criminal fraud charges. Darktrace CEO Poppy Gustafsson issued a statement defending the company from the "unfounded inferences" made by QCM. The company has also been criticized for its allegedly aggressive sales culture and doubts over the value of its technology. Lynch is no longer involved with Darktrace's management, but remains its sixth-largest shareholder.
Sentiment: MIXED
Tickers: DARK-GB,
Keywords: internet, london, markets, business news, cybersecurity, technology, darktrace plc,