Shares & Derivatives
Grab’s Share Price Has Tumbled 70% Since its IPO: Is it Poised for a Rebound?
By The Smart Investor  •  September 12, 2022
It’s been a rough time for growth stocks this past year, and Grab Holdings (NASDAQ: GRAB) has not escaped the carnage. The high-profile ride-hailing cum food delivery company’s share price has skidded nearly 70% since it went public via a combination with a special purpose acquisition company (SPAC) in early December last year. Grab’s super app offers a variety of services but the company continues to struggle to turn a profit. The digital services company released its 2022’s second quarter (2Q2022) earnings recently and disclosed that it was also going into advertising (GrabAds) and mapping and location-based services (GrabMaps). Blue-chip telco Singtel (SGX: Z74) has also partnered with Grab to launch a digital bank, GXS Bank, after clinching the Singapore digital full bank licence in December 2020. With so much going on, could shares of the company be poised for a rebound? A mixed set of financials 2Q2022 saw Grab’s revenue surge 79% year on year to US$321 million...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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