If you'd invested in: Ocado and Galliford Try
Online retailer Ocado is soaring despite being heavily shorted, but construction firm Galliford Try is suffering in the wake of the Carillion collapse.
If only
Online grocery retailer Ocado (LSE: OCDO) is among the UK's most shorted stocks, but its shares have rocketed since November, when it announced plans to build a warehouse for and license its technology to French supermarket chain Groupe Casino. Two weeks ago it announced another deal to help Sobeys, one of Canada's largest food retailers, build a warehouse outside Toronto and allow the chain to use its e-commerce platform. And this week, despite announcing a profit warning and a pre-tax loss of £500,000 in 2017, it placed £143m of shares with investors, representing around 5% of additional share capital.
Be glad you didn't
Construction firm Galliford Try (LSE: GFRD) has suffered following the collapse of Carillion. In January the firm, which is working with Carillion and Balfour Beatty on the £550m Aberdeen Western Peripheral Route road, said it may have to fork out an extra £30m-£40m to complete the project. Earlier in April its shares also plunged when it abandoned an effort to buy rival builder Bovis Homes, following a £1.2bn approach. To add insult to injury, Bovis, having rebuffed Galliford's advances, hired one of its former CEOs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Alice grew up in Stockholm and studied at the University of the Arts London, where she gained a first-class BA in Journalism. She has written for several publications in Stockholm and London, and joined MoneyWeek in 2017.
-
M&S and Tesco among those warning of a £7bn Budget hit
Seventy-nine UK retailers have written to Chancellor Rachel Reeves about possible price rises and job cuts - here is what it means
By Chris Newlands Published
-
How much does it cost to move home under the Labour government?
Home-moving costs are rising and could get more expensive once stamp duty thresholds drop in April 2025
By Marc Shoffman Published