Grab Holdings Limited (NASDAQ:GRABW – Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 3,054 shares, an increase of 1,870.3% from the August 15th total of 155 shares. Based on an average daily trading volume, of 37,805 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Grab stock. Altimeter Capital Management LP purchased a new stake in Grab Holdings Limited (NASDAQ:GRABW – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab comprises approximately 0.0% of Altimeter Capital Management LP’s holdings, making the stock its 18th largest position.
Grab Trading Up 2.7%
NASDAQ GRABW traded up $0.00 on Thursday, hitting $0.02. The company’s stock had a trading volume of 13,208 shares, compared to its average volume of 31,731. Grab has a 1-year low of $0.01 and a 1-year high of $0.58. The company’s 50-day moving average is $0.03 and its 200 day moving average is $0.06.
About Grab
Grab Holdings Inc (NASDAQ: GRABW) is a leading technology company in Southeast Asia that operates a super-app offering a range of on-demand services. Its platform connects consumers, merchants and drivers through mobile applications for ride-hailing, food delivery, parcel and grocery delivery, and digital payments. Leveraging a network of drivers, merchants and logistic partners, Grab aims to provide integrated everyday services across the region.
Founded in 2012 by Anthony Tan and Tan Hooi Ling and headquartered in Singapore, Grab has expanded rapidly through both organic growth and strategic acquisitions.
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