GoTo And Bukalapak Stock Prices Continue To Fall, Investors Must Listen To This Analyst Recommendation

GOTO share listing. (Photo: Doc. GoTo)

JAKARTA - The movement of shares of PT GoTo Gojek Tokopedia Tbk (GOTO) and PT Bukalapak.com Tbk (BUKA) does not seem to be able to satisfy investors. Because the price of these two stocks continues to move down.

For example, GOTO stock. Since the IPO on April 11, 2022, for IDR 338, GOTO's shares have fallen 49.21 percent.

On the trading day (Friday, May 13), GOTO lost 6.73 percent to the level of IDR 194 per share

Meanwhile, BUKA shares have fallen 35.85 percent since the start of this year. As of today, the price is IDR 272.

Responding to the movement of the two unicorn stocks, PT Kanaka Hita Solvera analyst William Wibowo has a recommendation for investors who already own GOTO and BUKA shares. "It's good to reduce positions in GOTO considering the downtrend is still not over", William told reporters.

As for BUKA, William views that technically it is better to wait and see while observing whether price movements will be restrained and rebound at the support level.

William estimates that the current important support for BUKA is at the level of IDR 258, while GOTO is around IDR 174 and IDR 150.

As for investors who just want to buy GOTO and BUKA shares, William suggests waiting for a more limited price decline and indications of a reversal trend.

"Only then can investors start paying installments on entries in these two issuers", William explained.