Grab Holdings snaps four-day losing streak with double-digit gains
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- Grab Holdings (NASDAQ:GRAB) stock jumps 10% in midday (New York time) trading after losing 43% of its value in four straight sessions.
- On Thursday alone, the shares plunged 37% after the digital financial, food delivery, and ride-hailing services company reported its Q4 results and issued its 2022 outlook. The Singapore-based company said it expects deliveries gross merchandise value of $2.4B-$2.5B in Q1 2022, no better than the $2.4B GMV in Q4 2021.
- Another point that may have disappointed investors is its long-term 3% GMV margin target for its deliveries business.
- In January, SA's Quant rating warned that Grab (GRAB) was at risk of performing badly due to poor profitability and decelerating momentum.
- Listen to Grab (GRAB) management's discussion of Q4 results and guidance during the company's earnings call.
