Sumary of Stock woes hound cyber firm:
- LONDON: British cybersecurity firm Darktrace came under investor scrutiny on Wednesday (Thursday in Manila) over dramatic share price gyrations since its headline-grabbing London stock market float.
- Darktrace, based in the English university city of Cambridge, held its annual general meeting amid growing unease over the stock.
- The company, which uses cutting-edge artificial intelligence technology to combat cyberattacks, arrived on the London stock market in April.
- Darktrace also joined London’s prestigious FTSE 100 index of top companies last month.
- Darktrace nevertheless now faces potential relegation from the London Stock Exchange’s FTSE 100 club.
- One shareholder at Wednesday’s AGM complained that a Darktrace director had sold a large amount of stock just as the share price was sliding, sending a “mixed message” to markets.