SPAC $Altimeter Growth Corp (AGC.US)$rose 3% in after hours trading after holders approved the deal to take Southeast Asian ride-sharing company Grab public.
Shareholder redemptions were almost 0%, at 0.02%, according to a statement. The transaction is expected to close tomorrow and Grab is expected to begin trading on the Nasdaq under the ticker symbol "GRAB" Thusday.
Grab is Southeast Asia's most valuable startup and is set to undergo a merger with Altimeter at a valuation of $40B.
The deal is expected to be one of the largest-ever U.S. equity offering by a Southeast Asian company. A public debut from Grab will offer investors access to a regional consumer market of more than 655M people across countries including Indonesia, Thailand and Vietnam.
Earlier this month, Brad Gerstner's SPAC Altimeter Growth announced that that the SEC declared effective the Form F-4 registration statement of Grab Holdings and set the shareholder vote for today.

Widely followed hedge fund manager Dan Niles predicted Wednesday that the $S&P 500 Index (.SPX.US)$ will decline in 2022, as the Federal Reserve is forced to raise interest rates and stock valuations come further off of all-time highs.
"My favorite investment idea right now is cash," the founder and portfolio manager at Satori Fund told CNBC.
In terms of individual stock picks, Niles pointed to Google's parent company $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ and Facebook's parent $Meta Platforms (FB.US)$, which he says provide growth at a reasonable price.
"Those are great names. The names you want to be scared about are the ones that have no earnings and are valued off of revenues," he said. "Those are the stocks that are going to have huge troubles as rates continue to ratchet up."
Niles argued that signs of weakness have been popping up in the equity markets for the past several weeks, with indexes like the Russel 2000 falling dramatically over that span.
"Underneath the surface, there's a lot of damage being done and people are just continuing to crowd into some of the biggest names," he said.
Detailing his prediction for 2022, Niles projected that the Fed will be forced to raise rates to counteract inflationary pressures. This, in turn, will push stocks off of lofty valuation levels, which reached a peak above figures seen during the dot-com bubble of the late 1990s and early 2000s.
Meanwhile, for the end of the year, Niles contended that most fund managers are "either window dressing or tax-loss selling," which means that value stocks will have trouble finding support during December.
Niles has long supported FB and GOOGL. See what tech giant he previously labeled "the most overpriced tech stock."

$Microsoft (MSFT.US)$ A CEO selling more than half his shares is a huge signal that the market is at its peak.

$NIO Inc (NIO.US)$ has delivered 10,878 vehicles in November 2021, up 105.6% Y/Y, and representing a solid monthly growth of 196.6% M/M from October's deliveries of 3,667 units.
The deliveries consisted of 2,683 ES8s, 4,713 ES6s, and 3,482 EC6s.
Total YTD deliveries reached 80,940 vehicles, up 120.4% Y/Y.
Cumulative deliveries of the ES8, ES6 and EC6 as of November 30, 2021 reached 156,581.
Last month, Citi boosted price target on Nio to $87 from $70 on expectations that the Chinese EV player will nab more market share.

$Advanced Micro Devices (AMD.US)$ The fact is, and based on what we have been seeing for the last few years is that, AMD' stock price is heading to $300, and Intel's is heading to $30, as an investors will continue to invest in AMD, who cares about the BS, let the dinosaur rest in peace ..

No service network. No charging network. A single $170,000 product with zero track record. $Tesla (TSLA.US)$ was struggling to survive when the $80,000 Model S was their only offering because it was so expensive that only a small % of buyers could consider it. Musk was sleeping on the factory floor as the Model 3 was entering into production and the company barely survived the launch of the $35,000 car (now $40,000+). The Lucid product is more than double that price.
Will $Lucid Group (LCID.US)$ survive in a much more crowded market segment with competition like Porsche, Audi, Volvo along with Tesla on the high end and $Ford Motor (F.US)$ , Kia, $HYUNDAI MOTOR CO GDR EACH REP 1/2 PFD N/VTG(REG'S')(CIT) (HYMTF.US)$ and $General Motors (GM.US)$ on the lower end of the market? Maybe, I suppose anything is possible.

$ARK Innovation ETF (ARKK.US)$ Any idea why they keep quoting this loser ?? --- her main fund is getting butt blasted this year, down hard YTD.
$Tesla (TSLA.US)$ $Zoom Video Communications (ZM.US)$

$Tesla (TSLA.US)$ My price target is $10,000 based on the following points:
- Its a Software Company because they work on a Full Self Driving Feature. No one else does, and it already works perfectly
- Tesla will be the leader in AI and Robotics. The Tesla bot was just introduced recently and will do everyone‘s dishes in 2 years max.
- Robotaxis are just around the corner, so Tesla will take over the entire Taxi market
- Tesla insurance is based on AI and stuff and will make Trillions. Nobody ever thought about tracking driving habits, so this alone justifies the current valuation.
- Lastly, don’t forget the cars, which are of high quality overall.
Actually, I am going to raise my price target to $20,000.

Famed investor Cathie Wood said Wednesday that her ARK Invest firm is testing a short portfolio that she characterizes as "ARK on steroids."
In terms of individual stocks, the founder and CEO of Ark Invest told CNBC that she backed $Zoom Video Communications (ZM.US)$ and $Tesla (TSLA.US)$.
She also described herself as a "net buyer" of $Bitcoin (BTC.CC)$, saying she makes strategic investments in the cryptocurrency, even though she doubted the need to use it as an inflation hedge.
On the short fund in development, Wood reported that it's currently being tested internally for employees. The portfolio would short stocks in the "big benchmarks," particularly targeting "value traps."
"We think the benchmarks are where the big risks are longer-term, because they are filling up with value traps -- those companies that have done very well historically but are going to be disintermediated and disrupted by the massive amount of innovation that's taking place."
Wood estimated that the market has priced disruptive innovation at $10T to $15T over the next 10 years. However, she thinks the number will likely reach $200T.
"So it will go from a little more than 10% of global equity market caps to what we believe could be more than half," she predicted.
Specifically, Wood sees tremendous growth in disruptive innovation for DNA sequencing, robotics, energy storage, artificial intelligence and blockchain technology.
On individual stocks, Wood recommended an investment in Zoom, saying the company has $4B in revenue in a market worth about $1.5T globally.
"So we think it has miles to go," she said.
Wood also continued to back $Tesla (TSLA.US)$, saying that recent stock sales by Elon Musk only represent an understandable need to pay taxes and diversify.
"Most of his net worth ... is in Tesla and SpaceX. I would bet that any financial adviser would say you have got to diversify," she said.
Wood has recently taken profits in some of her TSLA stake but she continued to praise Musk and the company's positioning for the next phase of innovation in the car industry.
"It really doesn't look like the Tesla has changed that much from a design -- it has from a technology point of view but not so much from a design point of view. And I think Elon and team are getting ready for this robo taxi world," she said.
Turning to the overall economy, Wood warned that the economy could be developing an "inventory problem," with companies over-purchasing products to try to keep up with perceived demand and stay ahead of supply chain bottlenecks.
Wood also repeated her belief that the economy's long-term trend is toward deflation rather than inflation, due to the downward pressure on prices that innovation will have.
Given her view on inflation, Wood doesn't view Bitcoin as a hedge against currency devaluation, as some others do. However, she sees it as "an important asset class" that offers protection "against confiscation of wealth other than inflation."
"We have been a net buyer and we pick our spots. Over time we pick our spots we do not buy on spikes," she said.
Wood has previously predicted that $Bitcoin (BTC.CC)$ would eventually hit $500,000.

$Amazon (AMZN.US)$ Amazon’s business lines are thriving whether AWS, its higher-margin business segment, logistics segment, or its advertising business which grew to ~$8B at ~50% YoY in Q3. Amazon’s revenue is expected to rise by ~12.35% annually through 2030, per moomoo earnings estimates.
Amazon’s online marketplace continues to be a strength for Amazon while it continues to invest in other areas, such as financial technology and logistics to drive down costs which leads to lower prices and better customer experiences. As AWS continues to absorb market share while Amazon invests in lowering costs to fuel future growth, I anticipate Amazon will build new verticals and continue to increase its profits, especially as Amazon looks to get into payments and embedded finance.
For a more detailed analysis of Amazon’s financials, I recommend reading my partner Ahan Vashi's analysis of Amazon’s Q3 earnings results in "The Perennial Growth Machine Hits A Snag".