$ONDS (-4,64%) INNNN. Let's go

Got some doubts:

Which stocks would buy in this deep phase between these ones?

$ZTS (-1,13%)

$GRAB (+0,03%)

$RACE (-0,9%)

$HIMS (-3,47%)

$TTD (-1,03%)

$VZ (-0,51%)

Dúvidas ? Nem por isso!

A Uber ($UBER (-1,3%) ) vence o duelo por apresentar um perfil de risco-retorno mais equilibrado. Enquanto a Grab negocia a múltiplos de valuation muito elevados (P/S > 5x) e ainda luta com a consistência do lucro líquido, a Uber consolidou sua lucratividade GAAP, possui maior escala global e oferece maior resiliência financeira. A Uber é vista como uma 'Blue Chip' do setor de mobilidade, enquanto a Grab permanece como uma aposta de alto crescimento e alta volatilidade em mercados emergentes.

O caso da GRAB!

Olhar para a Grab Holdings ($GRAB (+0,03%)
) em janeiro de 2026 é observar uma das transformações mais interessantes do setor tecnológico pós-pandemia: a transição de uma empresa de "queima de caixa" para um ecossistema financeiro e logístico lucrativo.

A Grab é o exemplo raro de uma empresa local que derrotou um gigante global. Ao operar em Singapura, Malásia, Indonésia, Filipinas, Tailândia e Vietname, a Grab detém mais de 50% do mercado de delivery e uma posição quase monopolista no ride-hailing em várias cidades.

O verdadeiro valor da Grab em 2026 não está apenas nos carros, mas no GrabFinancial.

• Ecossistema Completo: Para milhões de pessoas "desbancarizadas" no Sudeste Asiático, a Grab é a primeira experiência financeira.
• GrabPay & Empréstimos: A empresa utiliza os dados de milhões de transações diárias para realizar scoring de crédito ultra-preciso, oferecendo empréstimos a motoristas e pequenos comerciantes com riscos controlados.
• Fintech como motor de margem: Enquanto o transporte tem margens baixas, os serviços financeiros (seguros, gestão de património e crédito) são o que está a impulsionar a Grab para a rentabilidade líquida sustentável.

#GRAB

Growth, cash, and a booming market

I’ve been looking closely at two of Southeast Asia’s fastest-growing tech champions: Sea and Grab. Both dominate their respective ecosystems, both are profitable or on the verge of it, and both hold strong cash positions. But as much as I like the growth stories, the valuations tell a slightly different story. These are fair businesses right now, not necessarily cheap, also not expensive, just balanced on the edge between quality and risk.

Starting with Sea, the e-commerce and digital powerhouse behind Shopee, Garena, and SeaMoney. Estimates suggest top-line growth between 20–30% for the next three years, driven by Shopee’s expansion, rising monetization, and a rapid fintech ramp-up through SeaMoney. Garena, once the group’s profit engine, is stabilizing and still provides useful cash flow. Sea holds over $8 billion in cash, which gives it breathing room and flexibility. Free cash flow is growing in the mid-double digits, and the FCF yield of roughly 3–4% looks set to expand quickly if growth stays consistent. The business is scaling beautifully, but I can’t call it cheap. At these levels, execution needs to remain flawless to justify the current multiple. In the past, growth has been suppressed and pretty much flat; now it’s reaccelerating, but everything has to go well. That’s why I believe the stock isn’t a bargain right now. However, the story might change at 10–20% cheaper.

Then there’s Grab, Southeast Asia’s well-known “superapp.” Mobility, deliveries, and financial services are all doing pretty well. The company is what you get when you put Uber and Amazon together, then place it somewhere in Asia. Revenue is growing about 20% year over year, the company has close to $5 billion in cash, and free cash flow has turned positive with improving margins. On paper, it’s a very similar story to Sea: high growth, expanding profitability, and an FCF yield around 3%. The difference is that Grab feels very similar, but less compelling based on financials, even though the story is exciting.

Sea offers more upside thanks to its successful multi-segment business model and faster scaling, outperforming Grab mainly on valuation and financials. Both are fairly valued, not screaming buys, but still worth watching for those occasional deep pullbacks that are common in EM growth names. Just consider that Grab already traded around $3.60, and it can move very fast in those regions.

I’m keeping both on my radar. The fundamentals are very interesting, with strong balance sheets, clear growth, and rapidly improving cash flows, but I’d rather wait for the market to give me a better entry. Growth is fantastic, yes, but fair is not cheap, and patience could be key here.

$SE (+1,2%)
$GRAB (+0,03%)

To all $GRAB (+0,03%) holders out there, how have you been reacting to recent volatility?

The stock recently saw tremendous upside, are you selling right now or expecting it to go even higher?

I’m also curious to see what you think of an investment in $GRAB (+0,03%) for the long term, like 10+ years