Share Price Falls Freely, GoTo Wants to Hold Incidental Public Expose

Jakarta

PT management GoTo Gojek Tokopedia Tbk will hold an incidental public expose.

In the invitation letter received by detikcom, it was stated that this public expose would discuss the company’s steps to accelerate profitability.

“Including the future business strategy and developments in the company’s operational and financial conditions,” wrote the letter, written Wednesday (7/12/2022).

This public expose will be held virtually on Thursday, December 8, 2022 at 13.45 until it’s finished. The sources in this public expose are the directors and management of PT GoTo Gojek Tokopedia Tbk.

Previously, at the close of trading on Tuesday (6/12), the GOTO-coded issuer’s shares closed at Rp. 115, down by Rp. 8 (6.50%) compared to the previous trading close at Rp. 123 per share.

Quoted from RTI, Tuesday (6/12/2022), GoTo shares have immediately weakened since the start of trading. GOTO shares opened at Rp. 115 and lasted until the closing session.

The total transaction volume reached 190 million shares with a transaction value of Rp 21.85 billion shares. Meanwhile, the transaction frequency reached 8,529 times. GOTO’s market capitalization is recorded at IDR 136.20 trillion.

Capital Market Observer Hans Kwee revealed that the drop in GOTO shares was due to the end of the lock up period. With the end of the lockdown, ‘old’ shareholders can make transactions or sell shares.

“If I pay more attention because the lockup is open,” said Hans to detikcom.

Meanwhile, for the GOTO stock projection, Hans said that it would take time to wait for the pressure to end.

“Right now the market is (again) panicking, yes, its position, but yes in the future it will definitely end (the pressure). But when and at what level, I don’t know exactly, it depends on the market,” he said.

(kil/dna)

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