Ocado Short Sellers Circle as Technology Test Looms for Grocer
- Short interest has risen since the end of May: IHS Markit data
- Partnerships in focus when Ocado reports earnings on Tuesday
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A rise of more than 55% in Ocado Group Plc’s shares this year, and increased competition, has put the U.K. online grocer and technology provider back in the sights of bearish speculators.
Short interest in Ocado climbed above 5% of shares outstanding for the first time since July 2018 last month, after touching a multiyear low in late May, according to data compiled by IHS Markit Ltd. Some investors may be betting the shares are pricey enough and won’t be able to reach enough licensing technology deals to sustain its valuation. An official for Ocado declined to comment.