Jakarta –
The share price of PT GoTo Gojek Tokepedia Tbk (GOTO) has risen above the Initial Public Offering (IPO) level or the initial public offering price on April 11, 2022. At that time the value was at the level of Rp. 338 per share.
Citing RTI data, Thursday (6/2/2022), today’s GOTO stock ended at Rp 344, up 40 points or 13.16%. GOTO’s shares moved in the range of Rp. 304 to Rp. 346 per share.
Money Market Observer Ariston Tjendra said that technology stocks are currently experiencing a strengthening. Not only GOTO, several technology issuers are also said to have shot up their shares.
“If you look at the IDX technology stock index, which is positive today, it means that not only GOTO technology shares rose today. Other technology stocks such as BUKA, MCAS, DCII, MLPT, and others also rose today,” said Ariston to detik.comThursday (2/6/2022).
Regarding GOTO, Ariston assesses the possibility that the market will see the positive side of its financial statements. Even though it still lost Rp 6.6 trillion in the first quarter of 2022, the gross transaction value (GTV) of the on-demand business rose 25 percent year on year (yoy) to Rp 50.3 trillion.
“Maybe the market sees the positive side of GOTO’s financial report where GTV continues to rise, which means that the demand for GOTO service products remains high and the transaction size is also extraordinary, up to hundreds of trillions of rupiah,” he said.
“This means that there is hope to be able to profit in the future, even though currently it is still losing money,” he added.
GOTO’s shares are also included in the leading stock indexes on the Indonesia Stock Exchange (IDX), such as the IDX30, LQ45, and IDX80 indexes. This was announced by the IDX through an announcement on the Indonesia Stock Exchange website idx.co.id since May 31, 2022 yesterday.
Senior Vice President Head and Business Development Division PT Henan Putihrai Asset Management (HPAM) Reza Fahmi Riawan said the DX30, LQ45, and IDX80 stock indexes are indexes that serve as benchmarks for institutional investors, both local and global, in investing in Indonesian stocks. The inclusion of GoTo shares into the three indexes, especially the DX30 index, will encourage institutional investors to consider GoTo shares more in their investment basket.
“It’s like entering DX30, the issuer’s shares get investment grade status, worthy of investment. A number of fund management institutions, both private, government and state-owned companies also have regulations to make shares in DX30 as an investment target,” said Reza.
GoTo’s entry into the group of three main stock indexes on the IDX occurs in line with the increasingly optimal business integration that occurs in the largest digital ecosystem company in Indonesia. This is reflected in the trend of strengthening the GoTo business which has been seen since last year.
Since the business combination between Gojek and Tokopedia formed GoTo in May 2021, GoTo’s gross revenue over the past year grew 45% yoy to reach IDR 17.1 trillion from IDR 11.85 trillion. As a result, the company’s net income rose 7 percent to Rp 5.16 trillion from Rp 4.82 trillion.
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