Jump to content

Ocado shares surge after South Korean deal


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
  • image.png

  • Posts

    • this sounds like an amazing opportunity for users in the crypto world. It's important to approach futures trading competitions with caution, ensuring one's financial stability and a comprehensive understanding of the market. While the prizes are enticing, responsible trading remains the ultimate goal. Thanks for sharing such an intriguing event, I’ll definitely be taking a look at it ! 
    • As a newbie crypto trader, I dove headfirst into the world of futures trading on Bitget. Feeling overwhelmed by the charts and analysis, I discovered their copy trading platform. It was a revelation! Following the strategies of Bitget's elite traders, I learned the ropes while making real profits. Their expertise took the guesswork out of trading, allowing me to focus on understanding the market. This new Bitget Futures Elite Trader Selection Program is fantastic news. It incentivizes these top traders, giving them greater exposure, while also helping new users like myself identify proven performers. It's a win-win for everyone, and a huge step forward in making futures trading more accessible and successful for beginners. Thanks Bitget!    
    • Ontology is a high-performance, open-source blockchain that aims to revolutionize the way we approach digital identities, data sharing, and trust in the digital realm. One of the standout features of Ontology is its dual-token model, which separates the roles of ONT and ONG. While ONT serves as the staking tool for nodes and governance, ONG operates as the value-anchoring utility token for on-chain applications and transactions. This innovative approach mitigates the risk of turbulent fluctuations in the native asset value, ensuring a stable and efficient ecosystem. The ONG listing on Bitget is particularly exciting for several reasons. Firstly, it aligns with Ontology's recent announcement of a $10 million fund aimed at fueling the innovation and adoption of Decentralized Identity (DID) through the ONT and ONG tokens. This initiative underscores the project's commitment to empowering, educating, and evolving its ecosystem in exciting new ways.
  • Create New...