Ocado will release its half-year results on Thursday, July 16. Founder and CEO Tim Steiner will remain in his role until the end of next year. Steiner will then transition to an advisory position following reported boardroom friction.
JP Morgan forecasts 2.4% year-over-year revenue growth for the six months ending in May. Increased orders from the Ocado Retail joint venture likely drove this performance. Management aims to achieve positive cash flow in the second half of the current fiscal year. High short interest in the stock has prompted investor speculation regarding a potential short squeeze.