Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Expands By 93.4%

Grab Holdings Limited (NASDAQ:GRABW) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 14,339 shares, an increase of 93.4% from the July 15th total of 7,414 shares. Based on an average trading volume of 35,559 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Grab

An institutional investor recently bought a new position in Grab stock. Altimeter Capital Management LP bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRABW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 portfolio, making the stock its 18th largest position.

Grab Trading Down 10.0%

GRABW opened at $0.02 on Tuesday. The firm’s 50 day moving average is $0.04 and its 200-day moving average is $0.08. Grab has a 52-week low of $0.02 and a 52-week high of $0.58.

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.