The Ocado story so far
Ocado (OTCPK:OCDGF) is a British based online grocery delivery firm whose shares trade at a massive premium to other grocers.
Earlier on this, year Ocado risked going out of business and was heavily shorted. This was because Ocado suffered from a large debt load, had miniscule cash flow and declining growth prospects.
Ocado was saved by signing a deal to fulfill the online grocery orders of Morrisons (OTCPK:MRWSY), Britain's fourth largest grocery chain, resulting in the elimination of Ocado's debt. This agreement also gave rise to expectations for further deals with other grocers as well as speculation that Ocado might be acquired for its automated warehouse grocery picking technology by Amazon....
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