Dear readers, yesterday, Grab made a debut on the US stock exchange after a SPAC merger with Altimeter Growth Corporation (NASDAQ: AGC). AGC last closed at USD $11.01 and in tandem, Grab closed yesterday at USD 8.75 after an initial rally. So, what it means is that Grab stock has gone south by 20.53% on the first day of a highly-anticipated debut.
Grab is very popular right here in Singapore as we can see the footprints of Grab almost everyday: Grab foot delivery staff cyclists as well as Grab app. I am not sure whether such familiarity may have encouraged some Singaporeans to invest in Grab stock yesterday as soon as the trading bell rang?
For me, I will only invest in a stock if I have done research into the business of the stock, understand the business and am comfortable with the future earnings and profitability prospect of the business. I generally shun IPOs be it Singapore or US IPOs, be it big or small names because I prefer a stock to be around for sometime to assess investors’ sentiments before I invest.
And I believe a stock market correction is nearing the stock markets everyday and this correction will be a great opportunity for all investors and this will then be when I “Grab” stocks.
- STARBUCKS STOCK CRASH ON 1 MAY 24
- KEPPEL STOCK: PRICE TREND AS EXPECTED!
- HOW MALAYSIA STOCK MARKETS PERFORM COMPARED TO SINGAPORE STOCK MARKETS?
- MY VERDICT OF THE 50 CENTS COFFEE
- ONE STOCK MARKET THAT IS CURRENTLY OVERBOUGHT
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!