Overview

• Shares fell 3.48% to $6.10 on Wednesday, ending a nine-session winning streak.
• HSBC cut the stock to hold from buy and nudged its target to $6.20 from $6.00.
• The bank flagged an estimated 80x 2026 price-to-earnings multiple as a key concern.
• Even after the pullback, the close sat 29 cents below the 52-week high of $6.42 following a gain of more than 70% over 12 months versus the Nasdaq's 26%.
• Recent reports also highlight Grab’s investment in WeRide to accelerate Level 4 robotaxis in Southeast Asia as a longer-term growth driver.