Ocado (LSE:OCDO) is a FTSE 100 dropout and now resides in the FTSE 250. At its peak, the company was worth around £23bn. I believe that made it the UK’s most expensive grocer at the time.
Its time, however, was the pandemic when investors bet on a sustained movement towards food delivery. They rushed to buy shares in the online grocer and warehouse logistics company.
Four years later we can now say that this bet hasn’t proved to be a profitable one. And the bad news keeps coming for shareholders as the stock is down 59% over the past 12 months.
So, are we looking at an unmissable bargain, or is it time to forget about Ocado?
Often misunderstood
I want to start by highlighting that Ocado is often misunderstood by investors who focus primarily on its grocery business, overlooking its value as a technology company.
The core of its potential lies in its Ocado Smart Platform (OSP). This is a sophisticated…
