Grab, the Southeast Asian startup known for its “super app,” had a terrible Thursday.
The ride-hailing giant’s stock plummeted as much as 37% in New York after reporting disappointing earnings.
It posted revenue of $122 million for the fourth quarter, down 44% from the previous year as the firm said it had “preemptively invested to grow” its number of drivers.
Grab’s stock was down 0.9% in after-hours trade on Thursday, at about $3.28.
The slide came three months after the firm’s debut on the Nasdaq, the largest…