$Grab Holdings (GRAB.US)$ anyone knows why it is surging?

chofiey : no one knows why it fell either

Macdonell J : It's a repricing for all growth stocks due to the 10% correction of oil prices. With the drop of oil prices, the inflation may have been peaked as perceived; hence FED may not need to raise interest rate beyond Sept. All growth stocks especially growth tech stocks like Grab is valuated based on Discounted Cashflow Model. Whenever interest rate rises by 1%, the present value of the future cashflow will drop roughly by 9%, and vice versa. Thus, the stock price wld be repriced based based on the perceived future interest rate.

peaceuyyyyOP : I see, that was informative, thank you macdonell!
Btw may I know how did you come up with with the impact of 9 percent?