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

Grab Holdings Limited (NASDAQ:GRABW) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 14,339 shares, an increase of 93.4% from the July 15th total of 7,414 shares. Based on an average daily volume of 35,559 shares, the short-interest ratio is presently 0.4 days.

Grab Stock Performance

NASDAQ GRABW traded down $0.00 during trading on Friday, reaching $0.02. The company’s stock had a trading volume of 2,306 shares, compared to its average volume of 32,294. The firm has a 50 day moving average price of $0.04 and a 200 day moving average price of $0.08. Grab has a 12 month low of $0.02 and a 12 month high of $0.58.

Hedge Funds Weigh In On Grab

A hedge fund recently bought a new position in Grab stock. Altimeter Capital Management LP acquired a new stake in shares of Grab Holdings Limited (NASDAQ:GRABW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,502,000 shares of the company’s stock, valued at approximately $1,030,000. Grab makes up 0.0% of Altimeter Capital Management LP’s portfolio, making the stock its 18th biggest position.

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.