Grab Holdings Limited (NASDAQ:GRABW) Sees Large Increase in Short Interest

Grab Holdings Limited (NASDAQ:GRABW) was the target of a large growth in short interest in the month of 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 presently 0.1 days.

Grab Trading Up 2.7%

Shares of NASDAQ:GRABW traded up $0.00 during trading on Thursday, reaching $0.02. The stock had a trading volume of 13,208 shares, compared to its average volume of 31,731. Grab has a 52 week low of $0.01 and a 52 week high of $0.58. The firm’s fifty day moving average is $0.03 and its 200 day moving average is $0.06.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Grab stock. Altimeter Capital Management LP bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRABW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 largest 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.