Stock price drops freely, GoTo wants to hold accidental public exposure


PT management Go to Gojek Tokopedia Tbk will hold an occasional public exhibition.

In the invitation letter received by detikcom, it was stated that this public exhibition would discuss the company’s steps to accelerate profitability.

“Including future corporate strategy and developments in the company’s financial and operational condition,” the letter, written on Wednesday (7/12/2022), read.

This public display will be held virtually on Thursday 8 December 2022 at 1.45pm until close. The sources in this public exposure are the directors and management of PT GoTo Gojek Tokopedia Tbk.

Previously, at the close of trading on Tuesday (6/12), shares of the issuer coded GOTO closed at Rp.115, down Rp.8 (6.50%) from the previous trading close at Rp. 123 per share.

Quoted by RTI, on Tuesday (6/12/2022), GoTo shares have weakened immediately since trading began. GOTO shares were opened at Rp. 115 and lasted until the closing session.

The total transaction volume reached 190 million shares with a transaction value of Rp 21.85 billion shares. Meanwhile, the transaction frequency has reached 8,529 times. The market capitalization of GOTO is registered at IDR 136.20 trillion.

Capital market observer Hans Kwee revealed that the drop in GOTO shares is due to the end of the lock-up period. With the end of the lockdown, the ‘old’ shareholders can make transactions or sell shares.

“If I pay more attention because the block is open,” Hans told detikcom.

Meanwhile, for the GOTO stock projection, Hans said it will take some time to wait for the pressure to wear off.

“Right now the market is (again) panicking, yes its whereabouts, but yes in the future it will definitely end (the pressure). But when and at what level, I don’t know exactly, it depends on the market,” he said.


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