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 daily volume of 34,366 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Grab

A hedge fund recently bought a new stake in Grab stock. Altimeter Capital Management LP bought a new position in shares of Grab Holdings Limited (NASDAQ:GRABW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab makes up approximately 0.0% of Altimeter Capital Management LP’s investment portfolio, making the stock its 18th biggest position.

Grab Trading Down 8.9%

Shares of GRABW stock traded down $0.00 during mid-day trading on Friday, reaching $0.05. The company’s stock had a trading volume of 35,362 shares, compared to its average volume of 35,073. Grab has a 1-year low of $0.04 and a 1-year high of $0.58. The firm’s 50-day moving average is $0.06 and its two-hundred day moving average is $0.17.

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.