Trustpilot was the biggest faller on the FTSE 250 index as investors expressed concerns about the outlook.
Founded in 2007 to provide a platform where users could post reviews about businesses and search for the best deals, it had a strong first half: revenue appears to have risen 17 per cent to £77m in the six months to the end of June.
Trustpilot expects sales to rise by around 15 per cent throughout 2024, but shares fell 5.5 per cent, or 13p, to 222.5p.
Trustpilot, which was founded in 2007 to provide a platform where users could post reviews about businesses and search for the best deals, reported a strong first half of the year.
The sell-off overshadowed an otherwise upbeat performance, with group bookings forecast to have risen 19 per cent to £91m in the first half.
The FTSE 100 rose 0.36 per cent, or 29.83 points, to 8,223.34 and the FTSE 250 rose 1.25 per cent, or 261.15 points, to 21,188.91.
Traders enjoyed encouraging data on both sides of the Atlantic after the UK economy grew in May, while US inflation fell more than expected in June.
In London, AIM-listed Crimson Tide lost a third of its value, falling 33.3 percent, or 90 pence, to 270 pence, after its suitor decided to pull out of a formal offer.
Software firm Ideagen, which last month approached the process management apps company with a 312p-a-share offer, exited after data tracking platform Checkit withdrew its takeover interest three weeks ago.
Construction group Galliford Try, which rose 8.8 percent, or 24p, to 296p, said annual revenue and profit should beat the top end of market forecasts.
The company expects results for the year to June 30 to exceed the £1.64 billion in revenue and £29.2 million in profit forecast by analysts. The company has secured £101 million in public sector construction projects.
Stock Watch – Totally
Healthcare provider Totally has secured contract extensions worth £11m.
It secured three elective care contracts worth around £8m to reduce waiting lists in areas such as gynaecology and ophthalmology, and extended three further contracts worth £3.5m to support urgent care work, including out-of-hours GP services in the North East.
Most of the increases were revised during the election period. The shares gained 10.3 percent, or 0.75 pence, to 8 pence.
Hays did its best to defy the gloom that has enveloped the recruitment industry this week.
While rates fell 15 per cent in the fourth quarter to the end of June, it still expects full-year profits to meet market forecasts, albeit at the lower end of the £106m to £113m range forecast.
He suggested this amount could have been lower had it not been for £60m savings over the financial year.
Earlier this week, Page Group issued its second profit warning this year as confidence remained low among clients and candidates.
Hays shares rose 5%, or 4.45p, to 94.15p. Takeover target John Wood fell 1.3%, or 2.6p, to 204.6p after revenue fell 6% to £2.2bn in the first half of 2024 due to its strategic shift away from engineering, procurement and construction work.
We are still waiting to see whether Dubai-based Sidara will submit a formal bid.
Bytes Technology reported a decent start to the year in a “competitive market environment” but the IT firm fell 6.1 percent, or 32 pence, to 492 pence.
RS Group rose 9.7 percent, or 69.5 pence, to 790 pence after the electronics distributor flagged signs of recovery. While revenue fell 3 percent in the first quarter to the end of June, the pace of decline is continuing to slow, as expected.
Warehouse owner London Metric sold five properties for £27m and has sold almost £100m of assets since the end of March, and rose 1.6 per cent, or 3.2p, to 199.6p.