After JLP made a £152m killing on the sale of its remaining shares in Ocado, earlier this month, Ocado's share price spiralled this week on news of further share disposals by Ocado CEO Tim Steiner.

On Sunday, Waitrose unveiled the first details of its home delivery service in London, which will commence from mid-March.

The news followed the sale of two million shares at 254p by Ocado CEO Tim Steiner on Friday evening at a value of £5m, less than a year after the company's flotation.

This prompted Shore Capital analyst Clive Black to question the timing of the disposal on Monday and warn Waitrose now represented a "major potential challenge".

At 205p as The Grocer went to press, Ocado's share price has fallen by 23% since JLP sold its last 10.4% stake on 11 February at 265p. For an initial investment of £65m, JLP made total gains of over £250m.

But the biggest falls were this week and appeared to follow Steiner's share sale. A City source said: "Steiner's decision to sell appears to rule out bid rumours from the share price. It's unfortunate that JLP's announcement followed so swiftly."