Ocado’s share price is back where it started. Are its robots just too fancy?

Delivery company struggling to convince US chain Kroger, its most important customer, of the virtues of automationThat’s quite a stock market journey: from 180p at listing 15 years ago to the mighty heights of £29 during the locked-down Covid year of 2020 and now – oh dear – all the way back down to 180p. Welcome to Ocado, which looked like the future of grocery retailing once upon a time but now seems to be struggling to convince its most important customer of the virtue