PT shares Go to Gojek Tokopedia Tbk (GOTO) remained in the red zone as of today’s Thursday (1/12/2022) close of trading. Since opening this morning, GoTo stock has dropped to the lowest auto-reject level (ARB0
Shares of the tech company were recorded as of this morning down Rp.10 or 6.62% to a level of Rp.141. That is the bounds for the deepest drop in one day to hit the ARB level.
Cited by RTI data, GoTo shares immediately fell in early trading. Also, the shares were comfortable at the Rp level. 141 until the end of the negotiations.
The decline in GoTo stock is in line with the end of the company’s stock lock-up or lock-up period on November 30, 2022. With the end of the lock-up, “old” shareholders can transact or sell GoTo stock.
The volume of GoTo shares traded today reached 461.86 million shares worth IDR 65.12 billion. The frequency of transactions is 17,129 times. The market capitalization of GoTo is registered at IDR 167 trillion.
Capital market observer Hans Kwee assesses the decline in equities Go to today it is in fact due to the opening of the GoTo stock freeze period. Market participants considered it an overreaction to the news.
“In fact, the market is usually always hyper-responsive to an event. So it moves excessively,” he said detik com.
Even so, Hans believes GoTo, as the largest technology company in Indonesia, still has high hopes. The company still has a large market share, both in terms of transportation-related businesses and online shopping.
“Indeed, from the very beginning the company has explained that it is currently in a losing position and maybe in the future it will lose again. But if indeed we are an improving company where if we pay attention to the margin of starting to decline. the company may in the future its contribution margin will move positively,” he added.
Hans suggested, if market participants already hold shares Go to in order not to get carried away by the panic that occurred in the market. Because he believes the current movement in GoTo stock is driven by panic alone.
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