Altimeter Growth Aktie News

PHILADELPHIA , March 17, 2022 /PRNewswire/ -- Kaskela Law LLC announces that a class action lawsuit has been filed against Grab Holdings Limited ("Grab Holdings") (NASDAQ: GRAB) on behalf of investors who purchased shares of the company's securities between November 12, 2021 and March 3, 2022 , inclusive (the "Class Period").  In December 2021, Grab Holdings went public through a merger with Al...

Shares of Grab Holdings tumbled on its first trading day on the Nasdaq, after completing the world's biggest ever merger involving a special purpose acquisition company, or SPAC.

Grab has seen its shares lose over a fifth of their value on its first day in trading in New York, per a Wall Street Journal (WSJ) report Thursday (Dec. 2). The ride-hailing and delivery company has been set back shortly after its merger with a special purpose acquisition company (SPAC).

Grab's Nasdaq debut Thursday (Dec. 2) is off to a bumpy start, with shares dropping throughout the day from the opening price of $13.06 each, hitting $9.37 at midday, the Associated Press (AP) reported. Singapore-based Grab is Southeast Asia's largest ride-haling company, according to the report.

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%.

Grab, the Singapore-based ride-hailing giant swiftly growing its footprint as a super app, is making its U.S. debut on the Nasdaq exchange today (Dec. 2). And now, we might say, the hard part begins.

SoftBank-backed ride-hailing giant Grab began trading on the Nasdaq on Thursday, becoming the largest-ever company to close a SPAC merger and go public.

SPACs started out the year with a bang that soon became a fizzle. But don't count the Wall Street fad out just yet.