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

Grab Holdings Limited (NASDAQ:GRABW) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 14,339 shares, a growth 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.

Grab Stock Performance

Shares of GRABW stock traded down $0.00 during trading hours on Friday, hitting $0.02. 2,306 shares of the company were exchanged, compared to its average volume of 32,294. The company has a 50 day simple moving average of $0.04 and a two-hundred day simple moving average of $0.08. Grab has a fifty-two week low of $0.02 and a fifty-two week high of $0.58.

Institutional Investors Weigh In On Grab

A hedge fund recently bought a new stake 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 its most recent disclosure with the Securities and Exchange Commission. The fund 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 holding.

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.