Stocks Continue to Plunge, GoTo to Hold an Incidental Public Exposure Tomorrow

GoTo Gojek Tokopedia Tbk (GOTO) share price plunged again today, Wednesday (7/12), closing down 6.96% at Rp107. GOTO shares have fallen 50% in 13 days.

According to Indonesia Stock Exchange (IDX) data, over the past week, GOTO's share price has repeatedly hit the auto reject lower (ARB), accumulating a 28.9% decrease, and plummeting 37.56% in a month.

Compared to its initial public offering (IPO) price, the tech unicorn's share price has currently shrunk by 63.6% from its IPO price of Rp338.

Responding to the significant share price fluctuations, the Indonesia Stock Exchange (IDX) has requested an explanation from the company. Furthermore, the exchange authority has also requested the Indonesian decacorn to explain the situation to its shareholders by holding an incidental public expose.

Based on the disclosure, GoTo's Corporate Secretary, Koesoemohadiani, responded to the request for clarification regarding the volatility of the company's share transactions and followed the exchange's request for a public expose: "We announce the holding of an incidental public expose, which will be held virtually on Thursday, December 8, 2022," she said, as quoted on Wednesday (7/12) by Katadata.co.id.

She explained that the public expose will be attended by the company's directors with an agenda to present the operational and financial performance for Q3 2022 and the company's latest information. The incidental public expose can also be viewed via the YouTube channels of Gojek Indonesia, Tokopedia, and GoTo Financial.

(read: GoTo Reportedly to Lay Off 1,000 Employees, What's the Trend of its Shares?)