Grab (NASDAQ:GRABW) Trading Down 5%

Grab Holdings Limited (NASDAQ:GRABW)’s share price dropped 5% during mid-day trading on Wednesday . The company traded as low as $0.16 and last traded at $0.17. Approximately 18,307 shares were traded during trading, a decline of 35% from the average daily volume of 28,044 shares. The stock had previously closed at $0.18.

Grab Trading Down 5.0 %

The business has a 50-day simple moving average of $0.20 and a 200-day simple moving average of $0.21.

Institutional Investors Weigh In On Grab

A number of large investors have recently added to or reduced their stakes in GRABW. Altimeter Capital Management LP bought a new stake in Grab during the fourth quarter worth approximately $788,000. Walleye Capital LLC bought a new stake in Grab during the third quarter worth approximately $102,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Grab by 216.6% during the third quarter. Wolverine Asset Management LLC now owns 101,576 shares of the company’s stock worth $35,000 after buying an additional 69,488 shares during the last quarter.

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.