PT Investor GoTo Gojek Tokopedia Tbk (GO TO) to date have sold their shares in droves. This sale occurred when the value of the issuer’s shares had declined significantly.
Quoted by RTI, trading on last Monday (12/12/2022) GOTO shares opened and fell 6 points or 6.45% to the level of IDR 87 from its pre-close position of IDR 93. Also in this case these stocks had the lowest drop in a day or lowest automatic rejection (ARB). The decline is approaching Rp. 50.
When GOTO share price was still experiencing ARB, in Indopremier Sekuritas IPOT application, this morning around 10.03 WIB, many investors wanted to sell GOTO shares. Meanwhile, there are no investors willing to buy GOTO stock.
It was noted that the highest volume of shares offered was Rp. 87 with a total of 85.62 million lots. When calculated, the total sale value of shares aligned at that level reached Rp 744.9 billion. Hence, a total of 1.9 million lots of shares with a transaction value of IDR 16.8 billion were sold.
The queue for the sale of shares was winding. The total number of shares lined up as of this morning was 96,964,351 stock lots (96.96 million stock lots) at various price levels.
The calculation is, 1 lot of shares is 100 shares, which means the ones that queue up are the total shares GO TO that investors want to sell reached 9.69 billion shares.
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.
The potential for GOTO shares to move to Gocap
According to Kiwoom Sekuritas Indonesia analyst Abdul Azis, GOTO shares still have the potential to decline. Whereas currently the market psychology for the tech sector is not good.
Azis also expects the potential for a drop in GOTO shares to Rp. 50 is quite large. Also, the sale of shares is still ongoing at this time.
“The potential for a reduction of up to Rp 50 is possible considering that there is still a lot of selling pressure and the outlook is still negative,” he added.
Contacted separately, Equator Swarna Capital director Hans Kwee had a different opinion. He felt that there was still a small chance that GOTO’s shares would drop to the Rp level. 50. Because according to him, the condition of the company was still going strong.
“There are only two players between grab and carry GO TO. For the means of payment for the rest of the players? For the remaining market for a few players? And those that have the most GOTO ecosystems include the most ecosystems,” she said.