PT GoTo Gojek Tokopedia Tbk shares (GO TO) opened this morning, still down. The price is approaching IDR 50.
Shares of the issuer, listed by RTI, opened on Monday (12/12/2022) this morning, having dropped 6 points or 6.45% to Rp level. 87 from the position prior to the closing of Rp. 93.
During the opening at around 09.01 WIB, 80.37 million GOTO shares were traded. The value of the transaction reached IDR 6.99 billion. Meanwhile, the transaction frequency has reached 1,682 times. The market capitalization of GOTO was recorded at IDR 103.04 trillion.
Last week, GOTO stock had its lowest one-day drop or lower automatic rejection (ARB). At least 7 times in a row experiencing ARB.
Previously, PT GoTo President Gojek Tokopedia Tbk (GO TO) Patrick Cao reveals the factors that caused his company’s stock to plummet.
Factors causing stocks to decline are mentioned starting from macroeconomic conditions, capital markets, conditions, competition and company performance. However, according to him, these factors are beyond the company’s control.
“The share price fluctuations are the same as the shares of other public companies, which is a market mechanism influenced by various factors, not limited to macroeconomic conditions, capital markets, conditions, competition and corporate performance,” it said in a Virtual GOTO Public Exhibition, Thursday (8/12/2022).
“Many of these variables are beyond the company’s control and knowledge,” he continued.
It also noted the expiry of the stock lock up period GO TO on November 30, 2022 yesterday, the burden on the company’s shares was also added. Because large investors before the IPO were able to make their profits by selling shares of the company.