$Grab Holdings(GRAB)$ The market response relates to:
1) Increase in incentives year over year in Q2'24, coupled with
2) Flat growth sequentially, resulting in
3) No revision upward to guidance
Grab has likely pulled too hard up on profitability too early in a very nascent market
It should communicate to investors that it plans to be more aggressive in the years ahead now that it has flexed its profitability muscles
That said, there's some element of the market just needing time to digest new tech products
I believe GRAB still has many years of 20%+ growth ahead of it
And MTUs grew at a very healthy rate which substantiates this
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