Jakarta –
PT shares Garuda Indonesia (Lost) Tbk (YAA) fell on the second trading day after the suspension of shares was lifted. The weakening of GIAA shares was even considered very deep because it hit the lower limit of the daily decline, also known as the Lower Auto Reject (ARB).
As of 10:15 JATS time, shares of Garuda Indonesia are down 14 points or down 6.9% to a level of IDR 188 per share. GIAA shares cannot fall any further because that is already the ARB limit.
Citing RTI data, on Wednesday (4/1/2023), Garuda shares opened at Rp. 194. This price was lower than yesterday’s close at Rp. 202.
So far the share price Garuda Indonesia rising from the level of IDR 192 to IDR 204 per share.
The total shares traded were 37.28 million shares worth IDR 7.32 billion. Garuda’s shares have been traded 3,569 times.
The state-owned airline’s market capitalization is recorded at Rp 17.56 trillion.
CSA Research Institute senior analyst Reza Priyambada assessed that investors are still cautious about developments in Garuda’s performance. This was in response to Garuda’s actions which closed in the red zone yesterday.
“It appears that market participants are still waiting and seeing performance developments. The sale is still pending. However, it is hoped that it is only temporary as the debt issues will be resolved and performance will improve in the future,” said Reza .
Also watch the video “Garuda Indonesia Files Bankruptcy Proceedings in US Court”:
(acd/il)
