Foreign investors were net buyers of PT Goto Gojek Tokopedia Tbk (GOTO) shares worth Rp 288 billion on Friday (16/10), even as the Indeks Harga Saham Gabungan (IHSG) fell and GOTO shares dropped 7.41 percent. Across the Bursa Efek Indonesia that day, foreign investors recorded net sales of Rp 3.3 trillion.
GOTO traded 42.68 billion shares worth Rp 1.03 trillion on the day. Foreign buy transactions in the stock totalled Rp 537 billion, against Rp 238.9 billion in foreign sales.
Shares slide since rule change
GOTO shares have fallen 50 percent since the minimum share price rule changed from Rp 50 to Rp 1 on 28 September 2026. When the rule took effect, the shares hit the auto reject bottom for three consecutive days.
Aditya Prayoga, a research analyst at Phintraco Sekuritas, said the price falling below Rp 50 was in line with expectations once the trading rule change was announced. He viewed removal of the Rp 50 floor as positive over the long term.
Company points to profit and guidance
GoTo reported positive net profit for two consecutive quarters. In the second quarter of 2026 it posted net profit of Rp 252 billion on net revenue of Rp 5.7 trillion, and adjusted EBITDA of more than Rp 1 trillion.
Audrey Petriny, head of corporate affairs at GoTo, said the company remains on track to meet its full-year adjusted EBITDA guidance of Rp3.2-3.4 trillion. Foreign investors also bought shares in several other listed companies that day, including PT Indofood Sukses Makmur Tbk (INDF) and PT Merdeka Gold Resources Tbk (EMAS).
Related: Jakarta index falls 1.33% to 5,863.78 despite foreign buying · Ihsg rises to 6,052.51 with foreign investors net selling Rp32.05 billion
Source: GoTo
