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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