Open lock, GOTO shares deleted directly Tap ARB

JAKARTA, KOMPAS.com – PT shares Go to GoJek Tokopedia tbk (GO TO) fell immediately in early trading on Thursday (1/12/2022), after the lockout period o lock up Series A shares are open.

According to RTI data, after the opening of trading, GOTO shares immediately plunged by 6.62 percent to touch the level automatic rejection below (ARB) at a position price of IDR 141. This is once again the lowest level for GOTO shares since it took the floor.

After touching ARB, it was observed that many investors were still “stuck” in GOTO stock. This is reflected by orderbook GOTO, which contains only locations offer or big sell, with no buy position.

Read also: JCI strengthens nearly 1 percent, GOTO bottoms again

As the share price continues to fall, GOTO’s market capitalization is shrinking. As of Thursday morning, the market capitalization of the tech company was 167 trillion rupees.

For your information, this is the fourth time in a row that GOTO shares have touched the ARB level. Investors have been worried for a few days about the opening of the GOTO series A block period.

https://www.youtube.com/watch?v=uirVDrBcBxY

Capital market professional and WH Project founder William Hartanto said the weakening in GOTO stock still has the potential to continue. The selling action will continue to be made by investors until the GOTO share price is deemed to have priced in.

“After block period ends, the previously stranded shareholders will release the GOTO shares, the weakening can continue until the end of this sale, in other words there must also be shares buying when the GOTO price falls,” he told Kompas.com on Thursday.

Read also: 1,300 employee layoffs, how much cost savings has GoTo achieved?

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