Ocado Group Shares (OCDO.L) Fall By 12%: What Led To That Price Drop?

Ocado Group shares ended the last trading session with 1.805 GBP, showing a drop of 1.37 %. At the beginning of the year, Ocado Group shares were worth 2.883 GBP. The company has been seeing a daily drop of 1-2% for more than a month. However, the Ocado Group is doing much better than in 2019 or 2020, when its peak point was less than the lowest point of 2021. As a result of the fire in Hampshire, Ocado shares fell by 12%, as shareholders learned that the roof of the building collapsed, which led to the disconnection of the robotic network in the building. This fire cost Akado 110 million pounds, as a result of which the company lost 142 million pounds in six months. Another fire two years later risks upending Ocado’s carefully maintained image as a British retail and technology company.

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Ocado hopes that its UK grocery delivery partnership with Marks & Spencer will be a small part of the much larger revenues generated by licensing its robotic technologies to retailers worldwide.

Paul Meyer

Part-Time Reporter. Paul could do better in his engineering profession where he became a real pro. However, he chose the finance field to find a tranquil environment in his career. Today he creates a good number of great content for our team.

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