Dear readers, in this post, let us look at the latest update for Grab stock (NASDAQ: GRAB). As we know, Grab recently listed in the US stock exchange through a SPAC merger with Altimeter.
Before Grab made its trading debut, Altimeter was trading at USD 11 per share, hence this USD 11 price has since been used as a reference to gauge how Grab stock has performed. On the first day of its trading debut, Grab stock went up in price before closing for the day lower by almost 20%. Grab stock closed at USD 6.79 yesterday or down almost 38.3% from the USD 11 reference share price.
I have paid attention to Grab stock for I think Grab business story is so closely related to Singapore. Grab has grown and has its focus of its business in Singapore, starting from food deliveries to ride- hailing and more. But of course, Grab has its other businesses in other parts of the world. It is also recently announced that Grab will be acquiring Malaysian supermarket chain Jaya Grocer.
While a listing on the US bourse is definitely more attractive than having a listing on Singapore’s bourse due to the more attractive and large US market for more business, I wonder whether if Grab has listed its business on SGX, could Grab have done better in terms of stock price since many of us are so familiar with Grab? At least, for now, as in being better than the approximate 40% southing of its stock price currently? Some commentators say Grab’s listing came at a time when stock markets became more volatile and which hence affected its stock price.
One of the best performance of Singapore-based business which did well in the US stock markets is Sea Ltd (NYSE:SE) which, as of yesterday, was up 1,282.04% all time. Will we see a similar growth trajectory (of least a two-bagger) for Grab stock in time to come?