-Shares in Ocado surge ahead of Q4 report

Internet Business News
01-05-2011
-Shares in Ocado surge ahead of Q4 report

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

5 January 2011 -- Investor appetite for Ocado's stock (LON:OCDO) has grown in anticipation of the online grocer's fourth quarter results, with the price exceeding for the first time the 180p level achieved in the group's market debut last July, the Financial Times reported.
Shares in the company went up by 18.4p to 196.7p on Tuesday.

Ocado is expected to publish its sales for the fourth quarter and possibly for the holidays shopping season next Monday.

Analysts expect Ocado's sales growth to be in the area of 30%. Some also believe that the company would be heading for profitability.

The demand for Ocado's shares was driven by institutional investors and hedge funds trying to cover short positions.

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