Ocado, the U.K.-based online grocery retailer, would benefit from new competitor Amazon Fresh taking on some of its rivals, an analyst told CNBC.
Ocado Tuesday sent out a mixed set of results: Third-quarter sales and average weekly order figures have risen by double digit percentages. However, the company also issued a warning of "sustained and continuing market pressure."
In response to this, Ocado shares fell 13 percent Tuesday. Stewart McGuire, director in equities research at Credit Suisse, told CNBC's Street Signs that Ocado was a "twitchy stock," with a "big short position out there," though he considered today's sell off an "overreaction."
McGuire disagreed with other analysts such as Hargreaves Lansdown, who commented in a research note Tuesday that Amazon Fresh was pressuring Ocado's margins.
Instead, he asserted that Ocado "would prefer Amazon Fresh to be a better competitor globally," thereby diminishing the market share of Carrefour, Woolworths and other grocery outlets. "I don't think [Ocado] is particularly nervous" about Amazon crowding its retail space, he said.