UK's Auction Technology plunges after cutting profit margin forecast

Auction Technology Group's ATG.L shares down nearly 21% at 380p

Online auction operator is top loser on FTSE mid-cap .FTMC index, which is up 0.61%

Cuts FY profit margin guidance to 42%-43% from 45%-46%

Co to buy furniture retailer Chairish for $85 million on a cash-free, debt-free basis with no deferred or contingent consideration

We are constructive on the strategic rationale for the acquisition as the next step in advancing ATG’s competitive position and long-term strategy - brokerage J.P.Morgan
YTD, including session moves, ATG down 30.5%, FTSE mid-cap up 5.86%