Grab Holdings Limited (GRAB)

Grab Holdings (GRAB) stock declined by 8.41% due to disappointing performance outlooks. In pre-market trading, Grab Holdings (NASDAQ: GRAB) witnessed a decline following its bleak forecast, which failed to meet investor expectations.

• Disappointing FY24 Outlook: The Southeast Asian superapp, renowned for deliveries, mobility, and digital financial services, projected FY24 revenues between $2.7 billion and $2.75 billion, falling short of the $2.8 billion Street forecasts.
• Adjusted EBITDA Projections: Additionally, the company anticipated adjusted EBITDA in the range of $180 million to $200 million for FY24, further disappointing investors.

Shares of Grab Holdings Limited (GRAB) dipped by 6.86% to $3.53 following an announcement by Singapore's Land Transport Authority. The authority revealed its intention to investigate the supply of taxi and ride-hailing services as part of a broader review of the point-to-point industry structure and regulatory framework.

https://www.todayonline.com/singapore/lta-look-supply-taxi-ride-hailing-services-review-point-point-industry-2254281

GRAB's stock fell 14.75% due to the release of a mixed first-quarter report. While sales and earnings came in ahead of the market's expectations, the company's gross merchandise volume (GMV) came in lower than anticipated. After it grew gross merchandise volume by 24% in 2022 and 11% year over year in the fourth quarter, Grab's 3% GMV growth in the first quarter was disappointing.

https://www.nasdaq.com/articles/why-grab-stock-plummeted-today