Shares in Grab, Southeast Asia's biggest ride-hailing and delivery firm, slid more than 20% in their Nasdaq debut on Thursday following the company's record $40 billion merger with a blank-check company. Grab's shares rose as much as 21% minutes after the listing before retreating to trade 23% lower at $8.51 by 1834 GMT. The backdoor listing on Nasdaq marks the high point for the nine-year-old Singapore company that began as a ride-hailing app and now operates across 465 cities in eight countries, offering food deliveries, payments, insurance and investment products.
For you unbridled growth investors, the stock that could make you a lot richer this month and well beyond is Singapore-based Sea Limited (NYSE: SE). Sea has had a monumental run-up since the bear-market bottom 20 months ago.
Sea is well-positioned for long-term growth.