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

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 was 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.