GOTO Shares Rebound After Consecutive Muted Sessions

TEMPO.CO, Jakarta - The shares of GoTo Gojek Tokopedia (GOTO) finally ended their losing streak on Tuesday, December 13, 2022, as the company's shares experienced an increase to the level of Rp100 per share by the end of today's trade. 

GOTO stock scored green with a 13-point increase (14.94 percent) from the previous trade. After being traded at a level of Rp 81 per share during the opening session, the shares increased to Rp 108 with a reported market capitalization of Rp 118.4 trillion.

The position of GOTO's share price at today's trading marked the end of the weakening trend for the previous eleven consecutive sessions. Their shares continued to fall until they hit the lower auto-reject limit or ARB.

In the midst of this rebound trend, GOTO shares experienced a crossing of Rp. 88 for a total of Rp. 258.85 billion and ended up being the most actively traded with a value of  Rp2.5 trillion throughout Tuesday's session.

As previously reported, GOTO's management stated that the weakening value of its shares since the end of November was caused by the initial investors' profit-taking. GOTO Group President Patrick Cao explained that the stock price fluctuations that occurred at GOTO were the same as those that occurred at other public companies, which were part of the market mechanism and were influenced by a number of factors.

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