Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Expands By 98.9%

Grab Holdings Limited (NASDAQ:GRABW) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 10,371 shares, an increase of 98.9% from the May 14th total of 5,213 shares. Based on an average daily trading volume, of 34,366 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Grab

An institutional investor recently bought a new position in Grab stock. Altimeter Capital Management LP purchased a new position in Grab Holdings Limited (NASDAQ:GRABW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab comprises 0.0% of Altimeter Capital Management LP’s investment portfolio, making the stock its 18th largest position.

Grab Trading Down 0.4%

Shares of Grab stock traded down $0.00 on Tuesday, hitting $0.05. 29,043 shares of the company traded hands, compared to its average volume of 34,599. Grab has a 52 week low of $0.04 and a 52 week high of $0.58. The business has a 50-day simple moving average of $0.06 and a 200 day simple moving average of $0.17.

Grab Company Profile

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.