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...