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Why Grab Holdings Stock Lost 16% in April

TheMotleyFool

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Why Grab Holdings Stock Lost 16% in April: https://g.foolcdn.com/editorial/images/678939/hailing-a-rideshare.jpg

Shares of Grab Holdings (NASDAQ: GRAB) were slumping last month, as the Southeast Asian ridesharing company got swept up in the tech sell-off. There was little direct news out on the company in April, but the stock fits the profile of the high-growth, unprofitable companies that investors are shifting away from.

According to data from S&P Global Market Intelligence, the stock finished the month down 16%. As you can see from the chart below, the stock mostly tracked with the Nasdaq over the course of the month.