After Getting UMA, GOTO’s Shares Rise and Fly 11%

Jakarta, CNBC Indonesia – The stock price of PT GoTo Gojek Tokopedia Tbk (GOTO) continues to be depressed and earns it a stamp Unusual Market Activity (UMA) dari BEI.

“We hereby inform you that there has been an unusual decline in the price of GOTO’s shares (Unusual Market Activity),” the stock exchange announced on Friday (13/5/2022).

In last week’s trading, GOTO’s stock price always closed with a correction throughout 5 trading days.

On May 13, 2022, even GOTO’s share price was thrown from the psychological level of Rp 200/unit and closed at Rp 194/unit.

With this performance, it means that the market capitalization value of GOTO has fallen 42.6% from the time of the public offering (IPO).

Keep in mind, at the time of the IPO, GOTO’s share price was offered at Rp. 338/unit. Had strengthened on the first day of trading, in fact the stock price of GOTO tends to move downtrend.

At the time of listing, GOTO actually had a jumbo market capitalization value and became the fifth largest in the domestic exchange.

Therefore, the correction of GOTO’s stock price has reached the level of bottom auto reject (ARB) last week also weighed on the performance of the Jakarta Composite Index (JCI).

GOTO stock price correction has continued since April 19, 2022. Massive selling pressure even made use of the greenshoe option scenario.

However, until the funds from the stabilization scheme are used up, selling pressure on GOTO’s shares will continue.

It’s just that after a full week of correction, GOTO’s stock is monitored rebound in today’s trading, Tuesday (17/5/2022).

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At 09.45 WIB, GOTO’s share price was observed to have strengthened 11.34% at the level of Rp. 216/unit. However, GOTO’s stock was corrected and sank to the level of Rp. 181/unit at the beginning of trading. Today, foreigners are observed to have recorded a net buy of Rp 2.17 billion in GOTO shares.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

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