Grab Holdings Limited (NASDAQ:GRABW) Sees Significant Growth in Short Interest

Grab Holdings Limited (NASDAQ:GRABW) was the recipient of a large 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 trading volume of 34,366 shares, the days-to-cover ratio is currently 0.3 days.

Grab Stock Down 8.9%

NASDAQ:GRABW traded down $0.00 during mid-day trading on Friday, reaching $0.05. 35,362 shares of the company were exchanged, compared to its average volume of 35,073. Grab has a 12 month low of $0.04 and a 12 month high of $0.58. The company has a fifty day moving average of $0.06 and a 200 day moving average of $0.17.

Institutional Investors Weigh In On Grab

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