Irishandnew A key piece of that article is the statement "The companies trading the data did not identify from which apps the location information is compiled." -- what that sounds like to me is that users are installing some application that is recording their locations and sharing it with these data brokers.
Therefore GrapheneOS doesn't necessarily do ANYTHING to prevent this, however it does provide you with tools that you can use to reduce or eliminate this tracking, such as denying network communications to suspect applications.
Note: Google services DEFAULT to sharing your moment by moment location with Google. There are settings somewhere to disable this behavior, which I can't help you find since I do NOT use google services at all. Whether this setting stops it from sending your location to google or just stopping them from recording it is beyond my knowledge, and whether you trust that they ACTUALLY stop recording your location is another big issue.
When it comes to GOOGLE tracking your location, GrapheneOS also helps with this, since (a) you have the choice if you want to run their software, and (b) google services on GrapheneOS are restricted as any other user-installed software is, which gives you the option of reducing the permissions it has to do things.