Analysts Bearish on GOTO Amid Corporate Divestments

IDR50, leading to several securities firms revising their recommendations for GOTO. Despite that, GOTO’s financial statement still shows notably positive performance.

Tim Redaksi

8 Nov 2023 - 20.48
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Analysts Bearish on GOTO Amid Corporate Divestments

Bisnis, JAKARTA — PT GoTo Gojek Tokopedia Tbk. (GOTO)’s stock movement has been highly fluctuating over the past month, triggered by former directors and founders selling their shares, despite the company’s financial performance showing improvement.

GOTO dropped from IDR82 to IDR56 by the end of October 2023. The main sentiment causing this is rumors regarding the plan to sell series A shares by several key figures behind the company's establishment.

However, entering November 2023, the company's shares have slowly rebounded in response to investor reactions to GoTo's financial statement released at the end of October 2023. On Tuesday (11/7/2023), GOTO shares have risen by 1.32% compared to the previous day’s IDR77.

GoTo's management confirmed the bearish sentiment from the divestment plans in October 2023. At the same time, GoTo’s President Director Patrick Walujo attempted to ease the sentiment by purchasing GOTO shares in the market.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yusuf Waluyo Jati
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Analysts Bearish on GOTO Amid Corporate Divestments

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