Why Grab Holdings Stock Soared on Wednesday

Motley Fool2022-03-17

What happenedShares of Grab Holdings (NASDAQ:GRAB), a Southeast Asian ridesharing company, jumped Wednesday as Chinese stocks broadly skyrocketed on news that Beijing would do more to stabilize ...

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Comments

Big Money
2022-03-19
Big Money
[Wow] [Wow]
Yanly
2022-03-18
Yanly
Hmmm... not sure if grab will drop again. Gojek (GoTo Group) will public soon.
Big Money
2022-03-18
Big Money
[Cool]
Tek long
2022-03-17
Tek long
Hi
ckng11
2022-03-17
ckng11
Will obtaning the malaysia digital banking license this month help push grab to 6?
ckng11
2022-03-17
ckng11
Thank god i didnt listen to naysayer and bought at 3.05

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While that won't have a direct effect on Grab, which doesn't operate in China, the news sparked bullishness for Asian stocks in general. Grab's fellow Singapore-based tech company Sea Limited and South Korean e-commerce giant Coupang were also up by double-digit percentages.Additionally, Grab competitor GoTo Group announced plans to go public earlier in the week, seeking a valuation of $28.8 billion. That's more than double Grab's current market cap, which may signal that investors still see opportunities in that market.Grab shares closed Wednesday's session up by 16%.Image source: Getty Images.So whatThe Grab app is sometimes called a super app as it offers ridesharing, delivery, and payment services, and the stock was one of several Asian tech equities  outside of China that reacted favorably to the news out of Beijing.Vice Premier Liu He, China's top economic official, said the government \"should actively introduce policies that will benefit markets,\" a sharp shift away from Beijing's tone over the past year, when regulators have been cracking down hard on China's big companies.Investors in Chinese companies responded euphorically to the news, bidding some up by 30%, 40%, or even 50%, and the enthusiasm seemed to extend to companies based in other Asian nations that may have indirect exposure to the Chinese market and also trade on U.S. exchanges through American depositary receipts rather than direct shares.Now whatGrab shares tumbled earlier this month following the release of its most recent earnings report. The company has struggled during the pandemic, and posted wide losses and falling revenue in the fourth quarter. Like other ridesharing businesses such as Uber and Lyft, Grab looks to have a lot of promise, but has found it difficult to chart a path to profitability.Still, the Southeast Asian market has a lot of potential, and a stronger Chinese economy could offer benefits like increased investment and regional tourism growth. While Wednesday's double-digit percentage gain seems excessive considering the lack of any direct catalysts for Grab, its shares have been highly volatile. That pattern should continue given the market dynamics and the uncertainty regarding the company's financial future.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9035548191,"gmtCreate":1647647662452,"gmtModify":1676534254329,"author":{"id":"4108357879122720","authorId":"4108357879122720","name":"Big Money","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4108357879122720","authorIdStr":"4108357879122720"},"htmlText":"[Wow]&nbsp;[Wow]&nbsp;","listText":"[Wow]&nbsp;[Wow]&nbsp;","text":"[Wow] [Wow]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035548191","repostId":2220992977,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9035826133,"gmtCreate":1647566294252,"gmtModify":1676534245204,"author":{"id":"4109860731479420","authorId":"4109860731479420","name":"Yanly","avatar":"https://community-static.tradeup.com/news/19504cfd617ffd291d68a2cfd0a538dc","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4109860731479420","authorIdStr":"4109860731479420"},"htmlText":"Hmmm... not sure if grab will drop again. Gojek (GoTo Group) will public soon.&nbsp;","listText":"Hmmm... not sure if grab will drop again. Gojek (GoTo Group) will public soon.&nbsp;","text":"Hmmm... not sure if grab will drop again. Gojek (GoTo Group) will public soon.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035826133","repostId":2220992977,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9035890982,"gmtCreate":1647560675460,"gmtModify":1676534243724,"author":{"id":"4108357879122720","authorId":"4108357879122720","name":"Big Money","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4108357879122720","authorIdStr":"4108357879122720"},"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035890982","repostId":2220992977,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9035194678,"gmtCreate":1647529796528,"gmtModify":1676534241183,"author":{"id":"4105015218246760","authorId":"4105015218246760","name":"Tek long","avatar":"https://community-static.tradeup.com/news/ca207cac74c4dd0e7e5b04b4eafc9a96","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4105015218246760","authorIdStr":"4105015218246760"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035194678","repostId":2220992977,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9035106355,"gmtCreate":1647527961636,"gmtModify":1676534240875,"author":{"id":"3570163259385238","authorId":"3570163259385238","name":"ckng11","avatar":"https://community-static.tradeup.com/news/6c90d5736debfbd57038789c38825f1f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3570163259385238","authorIdStr":"3570163259385238"},"htmlText":"Will obtaning the malaysia digital banking license this month help push grab to 6?","listText":"Will obtaning the malaysia digital banking license this month help push grab to 6?","text":"Will obtaning the malaysia digital banking license this month help push grab to 6?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035106355","repostId":2220992977,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9035108700,"gmtCreate":1647527913544,"gmtModify":1676534240867,"author":{"id":"3570163259385238","authorId":"3570163259385238","name":"ckng11","avatar":"https://community-static.tradeup.com/news/6c90d5736debfbd57038789c38825f1f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3570163259385238","authorIdStr":"3570163259385238"},"htmlText":"Thank god i didnt listen to naysayer and bought at 3.05","listText":"Thank god i didnt listen to naysayer and bought at 3.05","text":"Thank god i didnt listen to naysayer and bought at 3.05","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035108700","repostId":2220992977,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":373,"commentSize":121,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2220992977"}