Again, Bukalapak's Shares Are Under Auto Rejection (ARB), Weakens On Thursday By 7 Percent To IDR 965 Due To Investors Selling

JAKARTA - Shares of PT Bukalapak.com Tbk were sold by investors and experienced a lower auto-reject (ARB) on Thursday, August 12 trading. The issuer with the code BUKA opened trading at the level of IDR 1.035 per share and immediately sank almost 7 percent (6.76 percent) to the level of IDR 965 per share.

BUKA shares were traded 4.238 times with a volume of 245 million units of outstanding shares. The transaction value was recorded at IDR 237 billion.

In trading before the red date, namely, Tuesday 10 August, BUKA's shares fell 6.76 percent to IDR 1.035 at the end of trading. In fact, when BUKA's shares were traded for the first time on Friday, August 6, the price shot up 24.71 percent.

On the second day in the secondary market on August 9, 2021, BUKA's shares still rose 4.72 percent. VP Corporate Affairs PT Bukalapak.com Tbk. Siti Sufintri Rahayu explained that the movement of the company's share price was purely due to market mechanisms.

Last Tuesday, a number of retail investors complained about this in the comments and ratings for the BukaLapak application on Google's Playstore.

"It's so bad on the 3rd day of ARB... how dare you to look for money from the Indonesian people for foreign investors... don't be shy about putting the Indo flag in the description...", said Haryadi Yusuf in an assessment of the Bukalapak application on the Playstore.

The Bukalapak application party responds to each of these comments and assessments in almost the same format expressing an apology and requesting to fill out an online form.

"Hi, we're sorry for the inconvenience. Regarding your problem regarding shares, we suggest filling out the form at the https://bl.id/appreview link first so we can help you check further. Thank you :)", wrote one response from the Bukalapak application manager.