Short-sellers burned again as Ocado soars 30%

Shares in online grocer Ocado have risen 30% this morning on news of a deal to provide fellow retailer Morrisons with an online delivery service.

The deal includes an initial payment of £170m to acquire a processing plant in the Midlands, as well as further payments for a Morrisons-branded fleet of lorries and ongoing license fee. Ocado soared 50% this morning on news of the deal, hitting highs of 290p before settling just above 260p, a rise of 30%. Shares have now risen 150% over the past 12 months. The tie-up will make uncomfortable reading for short-sellers, who have consistently betted against the firm since its 2010 IPO. The grocer is one of the most shorted companies in the FTSE 250, with between 10-15% of the stock ou...