10 Best Tech Stocks To Buy Right Now Under $10

7. Grab Holdings Ltd. (NASDAQ:GRAB)

Number of Hedge Fund Holders: 34

Share Price as of September 10: $3.35

Grab Holdings Ltd. (NASDAQ:GRAB) is a software company in Singapore that operates a super-app that provides food delivery, ride-hailing, and online payment services, extending to 700 cities in 8 Southeast Asian countries.  In 2018, Grab acquired the Southeast Asian operations of Uber Technologies Inc (NYSE:UBER).

The company’s digital banks segment is growing rapidly in Southeast Asia. Deposits and loans have increased significantly. It’s now focusing on scaling the ecosystem, using AI, and investing in GenAI.  For example, it rolled out AI-powered DISH descriptions (automated engaging and descriptive text for menu items) in 5 out of 8 markets at scale.

The company has  3 digital banks, all of which are fully operational. Deposits in GXS Bank in Singapore and that in Malaysia improved by over 50% quarter-on-quarter to $730 million. The total amount of loans given out by GrabFin and its digital banks reached an annualized rate of $2 billion in the second quarter.

Grab Holdings Ltd. (NASDAQ:GRAB) recorded a $664.00 million revenue in Q2 2024, exhibiting a 17.11% year-over-year rise. The loss per share came out exactly as Street estimates, with a value of $0.01.

Grab (NASDAQ:GRAB) has a near-monopoly position in Southeast Asia and its users are growing every quarter. In 2023, Fast Company, an American Business Magazine listed it as one of the most innovative companies in the Asia-Pacific region.

This stock is a good investment opportunity with strong growth and potential to gain market share in Southeast Asia. The company has $2.4 billion in cash to fund its expansion. It is held by 34 hedge funds as of June 30. The largest stakeholder is Tiger Global Management LLC, with a position of $329,879,447.