Jump to content
The Twitter Feeds are now back on the Platform ×

Ocado shares surge after South Korean deal


MongiIG

Recommended Posts

Ocado has just signed one of its biggest deals which helps it move further afield outside of its current orbit of Europe and the US. It’s struck a deal with the South Korean retail giant, Lotte.

 Jeremy Naylor | Writer, London | Publication date: Tuesday 01 November 2022 

As of the first two hours of trading, there are few sellers of the stock.

The online logistics and shopping specialist Ocado has seen its shares rise more than a third this morning as a result of a deal it's hammered out between its logistics division and Lotte Shopping to develop Lotte Shopping's online business in South Korea with the Ocado smart platform.

Ocado share price

Let's take a look at the share price chart because the journey that we've seen since the Covid lows back at the left hand side of this chart here, when we were trading all the way down at 9.86. We then saw 192% rise as people went more and more online.

Since then, there've been some problems at Ocado, profit warnings and concerns about the outlook and the fact it's not sealing any more of these deals. And we've seen an 86.9% drop from the record highs we had back in September 2022, the lows at £3.80.

Since then we've seen this rise come through and in today's session this is what a 35% now looks like, 35% rise in the stock and it's a candle which indicates that at the moment at least there are no sellers at £637p a share.

This is a marubozu candle indicating there are no wicks either end. So it starts at the bottom. We're trading at the top after 2-hours or an hour and a half's worth of the trading day, so far today.

So a good result for Ocado. Under the deal, Ocado and Lotte will develop a network of customer fulfillment centers across South Korea and there is a total annual revenue in this deal of £45 billion.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,697
    • Total Posts
      92,062
    • Total Members
      41,981
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    mixer50x350
    Joined 31/03/23 21:31
  • Posts

    • Hello everyone, i am looking to hold shares long term Apple Tesla in a spreadbetting account just wounded if there is a calculation example Tesla $195.00 1 share = ? ponds per point spread bet. Thanks for any help
    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
×
×
  • Create New...