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GRABbed some more of this pile of s in the $8.40s yesterday had to average down. Have to be really careful with these SPACS they trade like highway robbery for retail investors unless you are playing the Short side for the trip down. Never seem to hold premarket gains. Also not IPOs so always have to remember the BIG WIG holders cashing out there shares.
Not to thrilled here but will give it a few days to see it play out.
I DON'T THINK SO 'Grab Holdings Limited (GRAB)'
I DID SOME WARRANTS $3.20
SO DIS WOULD BE ABOUT $10 @ ORIGINAL COMMON PPS ????? 'Grab Holdings Limited (GRAB)'
It was 1/1 b4 being GRAB
opening pps is $$13 plus dollars Grab Holdings Ltd (GRAB)
8.6377 ? N/A (N/A%)
Volume: 27,448,906 @12/02/21 3:18:20 PM EST
Bid Ask Day's Range
8.61 8.65 8.13 - 13.2709
GRAB Detailed Quote
what is conversion rate per warrant my friend ????? $grabw
thank you $GRABW
thank you $GRABW
After completing richest SPAC deal yet, Grab stock slumps on first day of trading
3:08 pm ET December 2, 2021 (MarketWatch)
Print
By Levi Sumagaysay
Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal
After completing the richest deal yet for a special-purpose acquisition company, Grab Holdings Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.
Shares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the Altimeter Growth Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.
The strong open gave Grab a market capitalization of about $51.6 billion, but as of 3 p.m. Eastern time, the stock was down more than 20% to $8.60.
The Singapore-based company makes a "superapp" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its "roughest patch" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.
"Our mobility business has been rising as lockdowns have been relaxed," he said. "Our payments business also continues to grow. We're seeing all strong signs."
Oey also touted Grab's breadth and wide reach.
"Our superapp is so unique in Southeast Asia," he said. "It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in one app." He said the app "touches [consumers] in their everyday lives."
Backers of Grab, which was founded in 2012, include Didi Global Inc. (DIDI), Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.
Grab's financial picture
Grab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.
The company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.
However, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.
Risk factors
Besides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a "huge opportunity" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.
The company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s (UBER) business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.
Like other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown "growing interest" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.
For more: How Uber and Lyft are trying to pass new labor laws across the U.S
Oey said there's a "different backdrop in Southeast Asia" when it comes to the issue, pointing to the region's many "informal workers." He said that for nearly 50% of Grab's 5 million registered drivers, "this is their first ability to earn something and make a decent living."
"For a lot of them, it's their first bank account," he added. "A lot of them, it's their first access to steady employment."
As for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.
-Levi Sumagaysay
(END) Dow Jones Newswires
December 02, 2021 15:08 ET (20:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
$GRAB Grab to Celebrate Public Listing Milestone with Employees and Partners in First-Ever NASDAQ Opening Bell Ceremony in Southeast Asia Business Wire - 12/2/2021 10:00:00 AM
Grab Holdings Ltd (GRAB)
8.575 ? N/A (N/A%)
Volume: 27,031,998 @12/02/21 3:03:53 PM EST
Bid Ask Day's Range
8.55 8.56 8.13 - 13.2709
GRAB Detailed Quote
interesting one trading negative all day $grab
Grabbing some dec17c on this 8.70’s dip
GRAB-GRABW:We always sell p/m or a/h on those pos Naz fleecing the whole planet
Some other nice otc up today, doh
GRAB sub 9 now LOD
ive seen enough time to get away
turning my trading station down
this is BRUTAL action
everywhere
GRAB 9.20's good buy even though...pretty sickening action here
but its happening to lots of stocks
CFVI is one
plenty others too
Message in reply to:
It’s a joke but grabbing some $9.20s now for the flip. Hope don’t have to average down
GRAB:Should-bounce when blackrock wants-it to-go back up
It’s a joke but grabbing some $9.20s now for the flip. Hope don’t have to average down
GRAB:Insiders celebrating...lol...Waiting to buy back bottom,if ever
This is not an IPO all the BiG wigs unloading millions of shares for the quick profitable cash.
That might be quicker then the brokerages switching your shares. Lol. $20 to $12 now.$8 gap down a Shorting paradise.
I’ve messaged Admin to ask them to change the ticker.
Looks like the ticker change will happen tomorrow as stated here as E*TRADE has removed the quote for AGC tonight.
Look at how VIH traded before it merged with BKKT. Took BKKT 5 days to squeeze after the merger
I still don’t get why if this is such a huge merger why the price isn’t moving at all.
Out in 13s first flip.
Back in at $11.80s for another flip or hold until GRAB merger
Went heavy on the $12.40s will flip soon enough watching the vwap
AGC expected name change for GRAB and GRABW tmrw. No more AGC ticker
$14 aGAIN pre market but then sells off again
AGC
Will AGC start trading as GRAB or will they stay separate?
Grab's Class A common stock is expected to begin trading on the Nasdaq on December 2, 2021 under the ticker symbol "GRAB."
About Grab
Grab is Southeast Asia's leading superapp based on GMV in 2020 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. Grab operates across the deliveries, mobility and digital financial services sectors in over 400 cities in eight countries in the Southeast Asia region - Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single "everyday everything" app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and since then, the Grab app has been downloaded onto millions of mobile devices. Grab strives to serve a double bottom line: to simultaneously deliver financial performance for its shareholders and a positive social impact in Southeast Asia.
AGC-AGCB-AGCWW:We shall-see if-it's the moass we-all waiting for
AGC ready to bust a move
AGC-AGCB-AGCWW+CALLS:SPAC trifecta slowly going back up.
Insiders loaded big b4 merger and name change
Insiders always control the PPS and chart
Thanks to all who voted YES
I did!!!
14.10 TO SUB 13 why the sell off?
agc
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