GoTo’s remaining greenshoe funds are getting thinner due to selling pressure. This mechanism allows GoTo shares to maintain a stable price.
PT GoTo Gojek Tokopedia Tbk (GOTO) is quite well known.
One of these well-known companies underwent an initial public offering using a stabilization mechanism. By using this strategy, I believe GoTo is able to keep prices from falling or remaining stable.
In order to maintain stock price stability, GoTo appointed a member company, namely PT CGS-CIMB Sekuritas Indonesia.
With this strategy, the remaining balance of GoTo’s greenshoe will not run out.
Also Read: Buy GoTo Shares During Listing April 2022? Here’s the Easy Way!
Greenshoe GoTo Fund Remaining Stabilized
Through PT CGS-CIMB Sekuritas Indonesia, the GoTo company got the right strategy. When the share price sinks, then CGS-CIMB Sekuritas Indonesia becomes the buyer.
This is so that the stock does not experience a price decline. It’s just that for the month of April the pressure on the selling price of GoTo’s shares is increasingly felt.
On April 20 yesterday, it was the first time that CGS-CIMB Sekuritas Indonesia played a stabilizing agent.
In fact, as many as 1.2 billion shares of GoTo were bought by the company. The offer price is IDR 338/unit with a cost of IDR 413 billion.
Also Read: GoTo Stock Terms and How to Buy Through the Tokopedia Application
GoTo Stock Selling Pressure Rises
GoTo’s remaining greenshoe funds show instability due to increasing price pressures. In fact, this condition continues to increase every day.
It’s just that for April 25, 2022 yesterday the stabilization went as it should. However this is only done for 30 days after listing.
Through this GoTo stock stabilization scheme, there is a budget of Rp 2.05 billion to buy 6,092,258,400 shares.
Meanwhile, the shares purchased for the sake of stabilization reached 6,000,010,000, or 98.49% of the target.
The cost of expenditure is Rp. 2.02 billion. Even last trading on April 26, 2022, CGS-CIMB Sekuritas has managed to buy as many as 6,016,827,200 GOTO shares or equivalent to 98.76% of the purchase target.
The total cost is 2.03 billion. This proves that the stabilization of GoTo’s stock price is running low.
As a result, GoTo’s remaining greenshoe funds amounted to another 75,431,200 shares or around Rp. 25 billion.
Also Read: How to Buy GoTo IPO Shares with 4 Easy Steps
GoTo Stocks Weakened
Since the suppression of the share price of PT GoTo Gojek, Tokopedia Tbk (GOTO) has decreased. Despite using a stabilization strategy through CGS-CIMB Sekuritas Indonesia, it still declined.
Even the latest data on April 27, 2022 at 10:43 WIB shows GoTo’s shares are getting weaker and cannot survive. Since the beginning of the week, the stock price has been at the IPO price for closing.
The stock price was observed to be decreasing at Rp. 294/unit. Weakening around 4.5% means that GoTo’s shares have declined by 13% since the IPO.
The latest available data shows that the remaining greenshoe GoTo funds have run out. This happened in yesterday’s trading. The stock price had plunged and was even hit by a lower auto reject in today’s trading.