Share PT GoTo Gojek Tokopedia Tbk slumped 4.71 percent or 18 points on Tuesday’s trading (12/4). Issuer with code GOTO it took the floor or went public (IPO) on the Indonesia Stock Exchange (IDX) yesterday.
It was observed that at 12:30 WIB, GOTO’s shares fell to the level of Rp. 364. Whereas previously, the shares from the merger of Gojek and Tokopedia had penetrated Rp. 400 per share after making their initial listing on Monday (11/4) morning. That means, GOTO’s share price fell 36 points or 9 percent from its peak price.
The listing of GOTO shares also made the Composite Stock Price Index (JCI) strengthen one percent at the opening of trading that day to 7,355.
Director of Equator Swarna Investama Hans Kwee said that from the beginning, GOTO’s IPO was oversubscribed by 15 times. However, the stock did not rise too much.
“From the first it indicated that people only wanted to get the IPO price, then they were released,” Hans told CNNIndonesia.com.
In addition, according to him, there are many purchases from retail parties whose transactions are generally short term. Retail investors are said to want to take advantage of the action profit taking (take advantage).
“GOTO can only go up 1-3 days. So, between one day it goes up or a maximum of three days it goes up. There’s action profit taking from the market,” said Hans.
He predicts GoTo’s shares will continue to be around the initial IPO price, which is Rp. 338, with the hope of not falling further.
“I think he will stuck around the IPO price, hopefully it doesn’t go down any further. That’s the hope,” he said.
(tdh/one)
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