Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Drops By 42.2%

Grab Holdings Limited (NASDAQ:GRABW) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 7,414 shares, a drop of 42.2% from the June 30th total of 12,835 shares. Based on an average trading volume of 21,949 shares, the short-interest ratio is currently 0.3 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 position in shares of Grab Holdings Limited (NASDAQ:GRABW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 holdings, making the stock its 18th biggest position.

Grab Trading Up 0.4%

NASDAQ GRABW traded up $0.00 during trading on Wednesday, hitting $0.02. The stock had a trading volume of 28,077 shares, compared to its average volume of 32,772. The company’s 50-day moving average price is $0.04 and its two-hundred day moving average price is $0.11. Grab has a 12 month low of $0.02 and a 12 month high of $0.58.

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.