Softbank-backed Grab falls more than 20% in first day of trading following largest-ever SPAC merger
SoftBank-backed ride-hailing giant Grab began trading on the Nasdaq on Thursday, becoming the largest-ever company to close a SPAC merger and go public.
A trader works on the floor of the New York Stock Exchange (NYSE). Spencer Platt | Getty Images
Strategists who watch stock charts say the market is at a pivotal point, and the action Thursday and Friday could be important determining the direction the rest of the year.
WeChat Pay exec says he hopes payments business can be ‘in all places,’ as rivalry with Alibaba eases
Barriers between China’s tech giants like Alibaba and Tencent are coming down as the companies rush to comply with Beijing’s anti-monopoly crackdown.