GoTo Stock Price Falls, Grab and Sea Group Suffer Even More

Technology & Telecommunications

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Reza Pahlevi 28/07/2022 18:30 WIB

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GoTo's shares have fallen 19.37% since its IPO this year. However, this decline is less steep than that experienced by Grab and Sea Group since the beginning of the year.

Decline in GoTo, Grab, and Sea Group Share Prices (Year-to-Date - July 28, 2022)

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Decline in GoTo, Grab, and Sea Group Share Prices (Year-to-Date - July 28, 2022)

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Since the beginning of 2022, many technology companies have experienced a weakening of their share prices. This phenomenon has occurred globally, including in Southeast Asia.

PT GoTo Gojek Tokopedia Tbk, Indonesia's largest technology company, has seen its share price fall by 19.37% since its IPO on April 11th until July 28th, 2022.

However, this decline is not as severe as that of its two competitors, Grab and Sea Group.

From the beginning of the year until July 28th, 2022, Grab's share price has plummeted by 59.4% (year-to-date/ytd). Meanwhile, Sea Group's share price, which controls Shopee, has fallen by 65.55% (ytd).

These difficulties are not only experienced by companies already listed on the stock exchange but also by startups.

Citing data from CB Insights, funding for startups in Southeast Asia fell by 24.6% (quarter-on-quarter/qoq) in the second quarter of 2022.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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