bearish
Grab is Worth More Than the Sum its Parts
SUMMARY
- Despite a lot of enthusiasm leading up to the merger with SPAC Altimeter Growth Corp, Grab has had a weak market debut, with shares down nearly 30% this week.
- Much of the excitement surrounding the deal stems from the fact that Grab holds the crown for the biggest SPAC deal to date and the underlying factors surrounding the valuation
- At its current valuation, there is little room for upside, especially given the regulatory risk and the highly fragmented nature of some markets leading to more competition
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