Why Grab Holdings (GRAB) Went Up on Tuesday?

We recently published a list of 10 Firms Kick Off Shortened Trading Week With Impressive Gains. In this article, we are going to take a look at where Grab Holdings Limited (NASDAQ:GRAB) stands against firms that kick off shortened trading week with impressive gains.

The stock market kicked off the shortened trading week on a positive note, with all major indices finishing in the green territory as investors continued to monitor more corporate earnings results.

The S&P 500 led the charge among its peers, recording a modest 0.24 percent gain. The Dow Jones and the tech-heavy Nasdaq were similarly up, albeit posting lackluster gains of only 0.02 percent and 0.07 percent, respectively.

In comparison, 10 companies delivered stronger performances thanks to continued investor confidence. One company in particular stood out for jumping more than 100 percent in just two trading days.

To come up with Tuesday’s top performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A customer enjoying the convenience of a mobile financial services transaction.

Grab Holdings Limited (NASDAQ:GRAB)

Transport network giant Grab Holdings Limited (NASDAQ:GRAB) grew its share prices by 8.16 percent on Tuesday to close at $5.3 apiece as investors cheered news of potential tax rebates from the Singapore government.

On Monday, Singapore Prime Minister and Finance Minister Lawrence Wong announced that companies, including Grab Holdings (NASDAQ:GRAB), will receive a 50-percent corporate income tax rebate in 2025 amid robust corporate and consumption tax revenues.

This year’s budget included various spending initiatives on infrastructure investments to consumer vouchers, all of which were aimed at strengthening the economy against global trade challenges while supporting citizens amid higher living costs.

Eligible firms, even if not profitable, will also receive a cash grant between $1,500 to $2,000. The total benefit that a firm can receive will be capped at $40,000.

Overall, GRAB ranks 9th on our list of firms that kick off shortened trading week with impressive gains. While we acknowledge the potential of GRAB as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GRAB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.