Why Grab Stock Is Rallying Today
Shares of leading delivery, mobility, and financial services app in Southeast Asia, Grab Holdings (NASDAQ: GRAB), rose 7% today as of 1 p.m. ET Monday, according to data provided by S&P Global Market Intelligence.
This rising share price stems from excitement surrounding Grab's initial investment of $60 million in German start-up Vay, which offers affordable, remote-controlled rental cars.
In addition to this investment, Grab will be able to buy an additional $350 million worth of the company if additional joint milestones are met.
Source Fool.com
