December 10, 2020 13:30
Few businesses have fared as well throughout the pandemic as supermarkets.
As economic lockdowns swept across Europe, customers began hoarding supplies to see them through the coming weeks and months. As we have moved through the different levels of lockdown in the UK for the past 9 months one of the few constants has been supermarkets, which have not been forced to close their doors once.
Perhaps unsurprisingly, given the requirements for social distancing, the demand for online grocery shopping has surged this year. This surge has caused Ocado to revise its profit forecast, after revenue increased 35% in the three months up to 29 November 2020.
At the beginning of November, this year’s profit was estimated at £60 million, the Ocado Group has now lifted this forecast to £70 million, double the £35 million recorded last year.
Depicted: Admiral Markets MetaTrader 5 – Ocado Group Plc Daily Chart. Date Range: October 10, 2019, to December 10, 2020. Date captured: December 10, 2020. Past performance is not necessarily an indication of future performance.
In the chart above we can see how well the Ocado Group’s share price has fared this year, surging from 1,078.50 GBX on March 12, to a high of 2,902 GBX on September 9.
Despite this news, the share price fell by more than 5% this morning at the opening of the market. However, it is expected to recover throughout the day.
Depicted: Admiral Markets MetaTrader 5 – Ocado Group Plc M30 Chart. Date Range: December 1, 2020, to December 10, 2020. Date captured: December 10, 2020. Past performance is not necessarily an indication of future performance.
The group is expected to open three new warehouses in 2021, which they say will increase their capacity by 40%.
However, the future growth of the company will depend on how consumer behaviour will change once we see a gradual return to normality. It is very possible that the increased online shopping habits formed by the pandemic are here to stay.
How to Trade Ocado Group Plc CFDs with Admiral Markets
With Admiral Markets, you can buy Ocado Group shares with an Invest.MT5 account or trade them via Contracts For Difference (CFDs)! Here is how to get started:
- Open an account with Admiral Markets
- Download the MetaTrader 5 trading platform for free and open it
- Head to the ‘Market Watch’ window on the left hand side of the screen (if it is not already there press Control + M)
- Scroll to the bottom of the ‘Market Watch’ window and search for the Ocado Group in the dialogue box, as shown below:
Depicted: Admiral Markets MetaTrader 5 – Market Watch
- Select the symbol and hit enter to make it appear in ‘Market Watch’. Then right click on the symbol and select ‘Chart Window’
- From here you can enter the market by selecting ‘New Order’ at the top of the screen
Trade With Admiral Markets
With a Trade.MT5 account from Admiral Markets, you can speculate on the shares of the Ocado Group Plc and over 3,000 others via CFDs! Click the banner to open an account today:
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:
1.This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2.Any investment decision is made by each client alone whereas Admiral Markets UK Ltd (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
3.With a view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
4.The Analysis is prepared by an independent analyst Jitan Solanki, Freelance Contributor (hereinafter “Author”) based on personal estimations.
5.Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
6.Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
7.Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.