Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Rises By 1,870.3%

Grab Holdings Limited (NASDAQ:GRABW) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 3,054 shares, a growth of 1,870.3% from the August 15th total of 155 shares. Based on an average daily volume of 37,805 shares, the days-to-cover ratio is currently 0.1 days.

Grab Stock Down 11.4%

Shares of Grab stock traded down $0.00 on Friday, reaching $0.02. The stock had a trading volume of 5,211 shares, compared to its average volume of 31,576. The company has a 50 day moving average price of $0.03 and a 200 day moving average price of $0.06. Grab has a 1 year low of $0.01 and a 1 year high of $0.58.

Hedge Funds Weigh In On Grab

An institutional investor recently bought a new stake 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.

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.