$Grab Holdings(GRAB.US)$ lost more than one-fifth of their value on their first day of trading in New York. 
Shares fell 21% to $8.75, giving Grab a market capitalization of roughly $34.6 billion.
The Singapore-based company in April agreed to combine with the SPAC $Altimeter Growth Corp(AGC.US)$ in a deal that valued it at close to $40 billion, setting a high-water mark for transactions involving blank-check companies.
Even though it does hold great potential, the reality is cruel. Its first-day performance didn't reach people's expectations. 
What's the reason that caused it to drop? Would you like to tell about your observation?

The major averages fell sharply, giving up solid gains, on Wednesday after the Centers for Disease Control and Prevention confirmed the first case of omicron in the U.S.
The $Dow Jones Industrial Average(.DJI.US)$ fell 461.68 points to 34,022.04, after being up more than 520 points at the high of the day. The $S&P 500 Index(.SPX.US)$ lost nearly 1.2% to end at 4,513.04. The broad-market index closed below its 50-day moving average for the first time since Oct. 13. The $Nasdaq Composite Index(.IXIC.US)$ dropped 1.8% to 15,254.05 after rising as much as 1.8% earlier in the session
$Vertex Pharmaceuticals(VRTX.US)$ $NVR Inc(NVR.US)$ $Lennar Corp(LEN.US)$ $HP Inc(HPQ.US)$ $Applied Materials(AMAT.US)$ $Moderna(MRNA.US)$ $Salesforce(CRM.US)$ $Norwegian Cruise(NCLH.US)$ $Fortinet(FTNT.US)$ $American Airlines(AAL.US)$

$Lucid Group(LCID.US)$
gogogo !

woohoo! enjoyed buying in more $Tesla(TSLA.US)$ and $Palantir(PLTR.US)$ today! 🤙🏻🤙🏻🤙🏻

$NIO Inc(NIO.US)$ SH market red red, so does nio.
thoughts on closing price?