Short Interest in Grab Holdings Limited (NASDAQ:GRABW) Declines By 88.9%

Grab Holdings Limited (NASDAQ:GRABW) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 300 shares, a drop of 88.9% from the June 15th total of 2,700 shares. Based on an average daily volume of 28,900 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of Grab

A hedge fund recently bought a new stake in Grab stock. Altimeter Capital Management LP bought a new position in Grab Holdings Limited (NASDAQ:GRABW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,502,000 shares of the company’s stock, valued at approximately $788,000. Grab accounts for about 0.0% of Altimeter Capital Management LP’s holdings, making the stock its 11th largest holding.

Grab Stock Performance

Shares of GRABW stock remained flat at $0.18 during mid-day trading on Friday. The stock had a trading volume of 8,009 shares, compared to its average volume of 27,966. The stock’s fifty day simple moving average is $0.18 and its 200-day simple moving average is $0.20. Grab has a one year low of $0.11 and a one year high of $0.50.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.