
Grab shares crash nearly 40% after posting a $1 billion loss
CNN
Grab, the Southeast Asian startup known for its "super app," had a terrible Thursday.
The ride-hailing giant's stock plummeted as much as 37% in New York after reporting disappointing earnings.
It posted revenue of $122 million for the fourth quarter, down 44% from the previous year as the firm said it had "preemptively invested to grow" its number of drivers.
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