Jakarta, CNBC Indonesia – Stocks whose prices shot up sharply in a short time now have to feel the onslaught Auto Reject Down (ARB) in volumes and become occupants top losers.
Investors, especially beginners and retailers, should be more careful in buying stocks. Don’t get excited just yet when a stock’s price rises significantly in a short time. Moreover, if the price increase is not followed by a clear fundamental improvement or even away from its fair value.
Stocks that were previously illiquid or traded in small volumes often enter the city’s frying pan alias market maker. Investors and traders who are impetuous are often caught in a trap and have to feel the pain of buying at the ‘top’ and then being slammed.
The following five stocks are a clear example. Here is a summary of CNBC Indonesia for readers.
1. PT Indosterling Technomedia Tbk (TECH)
At the beginning of the year TECH’s share price was still in the range of Rp. 900/share. In just 4 trading days the share price rose to Rp 2,220/share. In just a short time, the market capitalization value of the company engaged in the IT sector shot up 147%.
The unnatural increase in stock prices made the stock exchange authorities decide to lock this stock trading on January 11. New trading opened last weekend (21/5/2021). TECH’s stock price was immediately hit by the ARB. After that, the stock was dogged by ARB for many volumes until the price fell almost 25% a week.
Before entering early 2021, TECH’s stock price has gone up fantastically. At the end of November 2020, one share of TECH was still traded at a price of Rp. 127. However, the price continued to fly more than 6x until the end of the year, which caused the IDX to impose a suspension on trading this stock twice.
Because it was stubborn and the price continued to fly, IDX for the third time temporarily stopped trading this stock. More than four months of halted trading now the stock is dropping steadily.
2. PT Baramulti Sukses Sarana Tbk (BSSR)
For the second case is the shares of BSSR whose company is engaged in the coal mining sector. The fantastic increase in coal prices up to US$ 100/ton has indeed become a positive catalyst for the share prices of mining issuers, and BSSR is no exception.
Before the 24% plunge this week, BSSR’s stock price had flown along with an increase in transaction volume. It was recorded that since May 6 – 20 or a period of two weeks, the stock price of BSSR has risen 61%.
BSSR stock transactions which were previously quiet because they were traded for less than 100 lots suddenly rose to hundreds of lots and finally, when the price reached a peak, it was recorded that more than 11 thousand lots of these shares changed hands.
Now BSSR’s stock has entered its correction period. After being hit by ARB’s attacks, the stock price of BSSR fell to Rp. 1,715/share from the previous Rp. 2,440/share.
3. PT Lionmesh Prima Tbk (LMSH)
The unreasonable price increase also made the IDX lock up the stock trading of this steel issuer. After a day of suspension, trading was reopened. The price had shot up significantly before finally being slammed and hit by the ARB wave.
LMSH shares are also illiquid. On May 5, no transactions were recorded and the price was stagnant at Rp 350/share. But after that transaction volume increased sharply and the price rose to 316% in just two weeks.
For someone who buys it at the top price, the losses suffered reach 24% alone.
4. PT ICTSI Jasa Prima Tbk (KARW)
The stock price of this clothing manufacturing company has high daily volatility. Since mid-April, stock transactions with a market capitalization of less than Rp. 1 trillion have suddenly become crowded and followed by price increases.
The stock price, which was previously close to the lowest level allowed by the exchange in the secondary market, namely gocap, suddenly shot up almost three times in one month.
After moving wildly, this stock price also suffered the same fate as the previous stocks, namely sinking. Within a week, KARW’s market capitalization value has eroded by almost 20%.
5. PT Temas Tbk (TMAS)
The last to become a resident of the club top losers this week there is a shipping issuer, namely TMAS. TMAS’s market capitalization fell 19.4% compared to last weekend. The pattern is the same. There is a significant and sudden increase in transaction volume that sends prices flying
On May 17th, the price of one share of TMAS was still at Rp. 174. Four days later the price went berserk and broke Rp. 360/share at the close of trading last weekend. Even in intraday trading at the end of last week, the price touched the level of Rp. 430/share before ending up being slammed.
Those were stocks whose prices rose significantly in a short time, but immediately dropped badly after that.
| Name | Code | Last Week | This Week | Change (%) |
| Indosterling Technomedia Tbk | TECH | 2220 | 1670 | -24.8% |
| Baramulti Suksessarana Tbk | BSSR | 2270 | 1715 | -24.4% |
| Lionmesh Prima Tbk | LMSH | 1355 | 1025 | -24.4% |
| ICTSI Jasa Prima Tbk | KARW | 148 | 119 | -19.6% |
| Temas Tbk | TMAS | 360 | 290 | -19.4% |
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