Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Decreases By 42.2%

Grab Holdings Limited (NASDAQ:GRABW) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 7,414 shares, a decrease of 42.2% from the June 30th total of 12,835 shares. Based on an average daily trading volume, of 21,949 shares, the days-to-cover ratio is currently 0.3 days.

Grab Stock Up 5.5%

Shares of Grab stock traded up $0.00 on Friday, reaching $0.02. The stock had a trading volume of 9,846 shares, compared to its average volume of 32,753. The company has a 50 day moving average price of $0.04 and a 200 day moving average price of $0.10. Grab has a 1 year low of $0.02 and a 1 year high of $0.58.

Hedge Funds Weigh In On Grab

A hedge fund recently bought a new position in Grab stock. Altimeter Capital Management LP purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRABW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab makes up about 0.0% of Altimeter Capital Management LP’s investment portfolio, making the stock its 18th largest position.

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.