The Ocado Group PLC (LON: OCDO) share price has risen 142.77% in the past three months as investor sentiment towards the UK grocery retail technology provider improved. The question on most investors' minds is whether the rally will continue or fizzle out.
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While we cannot say with 100% certainty what will happen in the future, we can make an educated guess based on our information. For example, we know that Ocado has 12 international partners that have committed to setting up 64 Customer Fulfilment Centres (CFCs) using Ocado’s technology.
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The company licenses its Ocado Smart Platform (OSP) technology to the world’s leading retailers. One of them is Kroger, an American retail company that operates supermarkets and multi-department stores throughout the United States.
Ocaod owns 50% of Ocado.com, a UK online grocery retail store. Looking at the company’s recent developments, we can see why investors have had an upbeat outlook on the firm. For example, the company recently announced that it had partnered with AEON Japan.
The retail technology provider noted that it partnered with AEON to open its first automated CFC using Ocado’s automation technology. The deal showed that Ocado’s proprietary AI & robotics can be applied to businesses and markets across the globe.
Ocado recently revealed that its Customer Fulfilment Centres (CFCs) house some of the most advanced technology in the world. With new innovations such as automated frame load and on-grid robotic pick, the company’s partners are becoming even more efficient.
In mid-August, the company announced that it was excited to apply the benefits of Ocado's technology to non-grocery sectors. Ocado Intelligent Automation brings new market players an attractive proposition and business model in industries apart from the grocery retail sector.
Ocado’s grocery retail technology platform has gotten praised from its customers, including Kroger, whose CEO, Rodney McMullen, recently said: “As the market is trying to play catch up with yesterday, Ocado is delivering breakthroughs and innovations that will redefine the tomorrow of online grocery retailing.”
Therefore, we may see Ocado shares rally higher. The company’s shares recently recovered from a deep pullback and could be headed higher.
Ocado share price.
The Ocado share price has risen 142.77% in the past three months. Will the rally continue?
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.