Shares in internet security firm Baltimore Technologies managed to recover some of yesterday's losses as some investors started to see value in the stock at the lower levels.
By 5pm in London, Baltimore shares were up over 2% to just over 47 pence sterling, after suffering an almost 20% fall yesterday when the stock hit over two year lows.
Analysts said investors had few expectations of a swift turnaround in Baltimore's fortunes, but some could be looking for an improvement in the longer term. The company had forecast 'modest' revenue growth and announced job cuts in May.
Reports in British newspapers today suggested that Baltimore's Chief Executive Fran Rooney could step down. Speaking to OnBusiness this morning, a spokeswoman from the company denied this and said Mr Rooney had no intention of leaving Baltimore.
Baltimore shares have been savaged following recent profit warnings in the internet security sector and are a far cry from the £15 highs hit during the peak of the tech boom last year.
