Grab (NASDAQ: GRAB), the creator of a "super app" that provides transportation, food delivery, and payment services across Southeast Asia, went public by merging with a special purpose acquisition company (SPAC) last December. Grab's stock opened at $13.06 on its first trading day, but it now trades at about $3 a share. Grab's slowing growth and its lack of profits spooked investors, and they rushed for the exits as rising rates crushed the market's more speculative stocks.
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