Jakarta, CNBC Indonesia – Shares of the e-commerce issuer, PT Bukalapak.com Tbk (BUKA), touched the upper auto rejection (ARA) limit in trading earlier this week, Monday (9/8/2021).
Bukalapak’s share price was previously at Rp 1,060 per share, rising 25 percent to Rp 1,325 per share in early trading. BUKA shares continued their increase after listing their initial shares on the Indonesia Stock Exchange last weekend, Friday (6/8/2021).
Although its shares recorded ARA for two consecutive days, foreign market players recorded net sales of Rp 110.62 billion in all markets.
As of 10.09 WIB, the transaction value of BUKA’s shares has reached Rp 466.89 billion with a volume of 352.37 million shares and a market capitalization value of Rp 136.56 trillion.
Panin Sekuritas analyst, William Hartanto, said that selling by foreign investors is a common occurrence as profit taking.
“It’s natural, if you make a profit, you will definitely sell it. The rest is just who is stronger, foreign sales or local purchases,” William said, to CNBC Indonesia, Monday (9/8/2021).
William assessed that Bukalapak’s stock is expected to continue its upward trend with an estimated strengthening to the level of Rp. 1,500 per share.
In addition, said William, Bukalapak which is included in the technology stock index on the IDX has positive prospects in the future. Moreover, if there are more and more unicorns from Indonesia who list shares in the domestic capital market.
“The techno index can still strengthen again as long as the trend for technology stocks is still ongoing, maybe until the end of the year,” he said.
By sector, this morning, it was observed that Bukalapak’s shares led the movement of the IDXTECHNO index with a 25% increase. Meanwhile, the technology index on the IDX this morning increased by 5.40%.
(hps / hps)
– .
