Jakarta –
Sugi is one of the investors who hopes to make money from the shares owned by PT GoTo Gojek Tokopedia. He plans to sell the shares coded GOTO after touching the top auto reject (ARA) level. But unfortunately, until the third day on the stock market, saham GOTO it doesn’t even touch the ARA level.
“The intention was to wait for ARA once, then immediately release it. But not yet ARA,” said Sugi to detik.comwritten Wednesday (14/4/2022).
Curious, why has GOTO’s share price not yet reached the ARA?
Stock Analyst Alfred Nainggolan assesses that GOTO’s stock price is indeed quite difficult to achieve ARA. The reason, he said, was the company’s absurdly high valuation.
“I can’t ARA, my consideration is that the valuation factor is already high. Even at the IPO price, the multiple valuations are already very premium,” Alfred said to detik.com.
Alfred also compared GOTO’s IPO with Bukalapak’s shares (BUKA). During the IPO in 2021, BUKA shares could immediately touch the ARA level after 2 days of listing on the trading board.
“When the BUKA IPO is open, the market does not have benchmarks in the domestic market, the euphoria has wide limits. Unlike GOTO, which inevitably will be compared to BUKA, so the euphoria is limited, especially in terms of valuation, BUKA has multiple valuations which are much cheaper, ” he continued.
The Director of PT Anugerah Mega Investama Hans Kwee also conveyed the same thing. He considered that GOTO’s valuation was too large to be able to fly high.
“In my opinion, because the GOTO size is large, so it is difficult to increase or ARA. If we meet an IPO with a large size, it is rather difficult for the stock to go up very fast,” said Hans separately.
Kwee also explained that many investors have taken advantage of the recent uproar in GOTO shares by tending to profit taking.
“Secondly, it seems that people only buy taking advantage of the short momentum. When they buy, on the first day it goes up, they (investors) immediately sell, so profit taking. He doesn’t do it in the secondary market. rose in position. The upward momentum is reduced,” he added.
Watch the video ‘The Story of the 001 Gojek Driver Gets GoTo IPO Shares’:
(fdl/fdl)
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