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Darktrace shares plunge again as investor lock-up ends
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Shares in the cybersecurity firm Darktrace have plummeted again after an analyst note raising doubts about its valuation and as the expiry looms of a lock-up on insiders selling their stakes.
The Cambridge-based firm, which had been a star performer since floating in April and joining the FTSE 100 last week, had a share price fall of more than 13% to 698p in early trading on Monday, valuing the company at £4.8bn.
Its shares first began to dive last week after an analyst note from Peel Hunt questioned its sky-high valuation. Darktrace, which uses artificial intelligence to create digital security products to keep businesses one step ahead of hackers and viruses, has lost £2bn from its market capitalisation within a week.
The company’s shares
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