Grab Holdings Limited (NASDAQ:GRABW – Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 10,743 shares, a growth of 286.9% from the September 15th total of 2,777 shares. Based on an average trading volume of 64,172 shares, the days-to-cover ratio is presently 0.2 days.
Grab Stock Up 1.5%
GRABW traded up $0.00 during trading hours on Friday, reaching $0.02. The company’s stock had a trading volume of 167,546 shares, compared to its average volume of 34,135. The company’s 50-day moving average is $0.02 and its 200-day moving average is $0.04. Grab has a 52 week low of $0.01 and a 52 week high of $0.51.
Institutional Trading of Grab
A hedge fund recently bought a new stake in Grab stock. Altimeter Capital Management LP purchased a new stake in Grab Holdings Limited (NASDAQ:GRABW – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab accounts for about 0.0% of Altimeter Capital Management LP’s portfolio, making the stock its 18th biggest position.
About Grab
Grab Holdings Inc is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with on-demand transportation, food and grocery delivery, package delivery and other local services.
Grab also provides digital financial services, including payments, mobile wallets, lending and other financial products for consumers, driver-partners and small businesses. Its services are available across several Southeast Asian markets, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.
Grab was founded in 2012 by Anthony Tan and Tan Hooi Ling as a taxi-booking application in Malaysia before expanding into a broader regional platform.
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