Darktrace boss Poppy Gustafsson hits back after short-seller attack

Darktrace boss Poppy Gustafsson has hit back after being fiercely attacked by a short seller.

Shares hit a record low on Tuesday after Quintessential Capital Management said it was “highly skeptical” of the cybersecurity company’s financial statements and warned that the group may have “over-estimated” sales and profits.

But in a 1,200-word defense, Gustafsson said it was “important to refute unfounded inferences” and “repress in the strongest terms any suggestion that this is a company that is not run with the utmost integrity.”

That cheered investors, as did a £75m buyback, and the share rose 4.4 per cent, or 9.3 pence, to 219.5 pence.

Plans for the buyback were drawn up last week, but were accelerated after the broadside.