Grab (NASDAQ:GRABW) Stock Price Down 1.4% – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRABW) shares were down 1.4% on Monday . The company traded as low as $0.2888 and last traded at $0.30. Approximately 12,103 shares changed hands during trading, a decline of 75% from the average daily volume of 48,073 shares. The stock had previously closed at $0.3044.

Grab Stock Down 1.4%

The stock has a 50 day moving average price of $0.37 and a 200-day moving average price of $0.40.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grab stock. Aristeia Capital L.L.C. purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRABW) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 210,873 shares of the company’s stock, valued at approximately $90,000.

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.