Grab's latest earnings - it looks to be a falling knife (04Mar2022)
Grab $Grab Holdings(GRAB)$ plunged 37% yesterday following its earnings report . The stock collapsed from its peak of $17.15 to the low of $3.28 as per closing yesterday. The company has not been making money and the challenge to break even looks to be steep. In lieu of the coming Fed rate hike, people will move away from such businesses (with the hope of future profits) to other value stocks. Stock of Grab fell 37% after announcing its earnings Extract from Yahoo Finance news: Southeast Asia’s ride-hailing and delivery giant has plunged 63% since its debut, placing it among the Nasdaq Composite Index’s worst performers over that stretch. Thursday’s drop marked its biggest selloff ever after the Singapore-based company’s quarterly net loss nearly doubled from last year while revenue shrank 44% . The tumble came as 116 million shares changed hands, more than four-times the average over the past month. Grab -- which counts SoftBa...