Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Declines By 98.9%

Grab Holdings Limited (NASDAQ:GRABW) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 155 shares, a drop of 98.9% from the July 30th total of 14,339 shares. Based on an average trading volume of 25,637 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grab stock. Altimeter Capital Management LP purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRABW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 holdings, making the stock its 18th biggest holding.

Grab Trading Up 5.5%

GRABW stock opened at $0.03 on Thursday. Grab has a 52-week low of $0.01 and a 52-week high of $0.58. The business has a 50-day simple moving average of $0.03 and a two-hundred day simple moving average of $0.07.

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.