Grab (GRAB.US) shares surged, with the CEO increasing his stake by nearly $30 million, signaling internal optimism.

Zhitong Finance APP has learned that Grab (GRAB.US) shares surged about 9% on Tuesday to around $3.18, after the company's senior management disclosed a new batch of company stock purchases, drawing attention to insider confidenceeven though the stock is still down sharply so far this year. According to the latest SEC filing, CEO Anthony Ping Yeow Tan bought 10.35 million Class A ordinary shares for about $29.9 million, at a weighted average price of $2.8866 per share. The filing shows that these purchases consisted of multiple transactions, with prices ranging from $2.83 to $2.91. The CEO currently beneficially owns 10.78 million shares.