Wake Up Seattle

$GRAB CEO Anthony Tan buys 10,350,000 shares of Grab at $2.89/share. Anthony has been a net seller on the open market since the company went public. This is first open market purchase. Obviously, for him to buy $30M of stock while his net worth is around $300-400M shows how significant of a purchase this is and how much he thinks the market has lost their minds on this name. We are now looking at a public valuation LOWER than what Grab was worth in the private markets. Their enterprise value is $7B and they will profitably do $4.2B of revenue this year. Really nice to see an insider buy — it has been a tough hold but the broader thesis, in my opinion, is being executed in a VERY strong way with a horrible macro backdrop . For a CEO who has been criticized for many insider sells (many of which were pre-planned and also deserved given the guy founded the company and wasn’t liquid for a decade) it is nice to see him put almost 10% of his net worth into the company he started 15 years ago via purchases on the open market. Grab Holdings President & COO Alexander Charles Hungate also bought $867K of $GRAB with 299,571 shares at a $2.89 avg. The markets are the greatest game on earth, they will test your patience, they will turn your stomach inside out, they will drive you crazy as the price of an asset goes down while fundamentals get better, every bear case will make more sense as you see the price go down, but one thing is clear: execution and compounding earnings wins in the end. It’s nice to see a C-suite that believes in that themselves and takes advantage of that with a sizeable amount of their personal networth. The story continues!