PT Gojek Tokopedia Tbk (GOTO) shares fell again automatic rejection lower (ARB). GOTO shares decreased by IDR 9 or 6.82% to the level of IDR 123.
Lecturer and capital market observer Lanjar Nafi revealed that one of the reasons GoTo stock experienced ARB was still related to employee layoffs and the economy, which he said had been hit.
“This sentiment seems to confirm that GoTo’s performance is indeed not very good with quite high expenses. From a fundamental point of view it is the same if we look at it, even though GOTO’s revenue for the third quarter was up significantly, even around 215% from the previous quarter. secondly, but also in terms of expenses, they had a significant increase, so they also had operating losses which increased by about 118% until they had losses,” he Lanjar Nafi told detikcom on Monday (5/12/2022).
Aside from that, Lanjar also said that one of the sentiments that led GoTo stock to experience ARB was the stock freeze that had been opened. “This is also a negative sentiment of falling prices Go to warehouse to the ARB several times. Because this block was previously used to prevent old shareholders from making sales at the time of the IPO,” she said.
“So when the old owner that was locked up opened up, after about another eight months of taking the floor, yeah, obviously that became their vehicle for sale,” he added.
However, Lanjar said the GOTO strategy to reduce the burden should have a positive impact on future performance. This is because the revenue obtained from GOTO is quite significant.
GOTO Equity Outlook
When asked about GoTo’s share projection, Lanjar revealed that there’s still a chance it would go up again. “When viewed by analysts who do fundamental analysis, GoTo’s stock isn’t relatively bad, yes, if I look at it by consensus,”
He added that there were only a few analysts suggesting selling GoTo stock.
“That indicates that in a year or five years it will still be quite financially viable. So, will the stock go back to GoTo next year?” he said.
According to Lanjar, even though GoTo’s share price is currently much lower than when they did their IPO, there’s nothing wrong with investing in GoTo. “There is nothing wrong with those who are interested in technology companies and have a medium to long term investment term. You can pay attention to GoTo next year,” she said.
The GOTO stock block was opened to become the culprit of ARB. Check out the next page.