GOTO – A potential threat as the founder's stock lock up period ends

GOTO – A potential threat as the founder's stock lock up period ends GoTo Gojek Tokopedia (GOTO) is facing a potential threat as the founder's (Andre Soelistyo, Kevin Bryan Aluwi and William Tanuwijaya) stock (B' series shares) lock up period ends. Note that, William Tanuwijaya as the former CEO of Tokopedia once sold 764.6 mn series A shares or equivalent to 0.06% of the total on December 14-18, 2023 at an average price of IDR91 per share. Soon, the market responded negatively and GOTO experienced a weakening stock price. It is estimated that this month or coinciding with the end of the lock-up period is a period that allows GOTO's stock price to move volatile. This is also in line with the schedule for the release of GOTO's 2023 financial statements. Currently, GOTO is still in a strong position with positive EBITDA achievement in 4Q23. GOTO will also continue to improve performance and focus on implementing long-term investment strategies to strengthen the business. Moreover, GOTO will receive an e-commerce service fee on a quarterly basis from Tokpedia as part of the deal with TikTok. The e-commerce service fee percentage is calculated based on GMV from Tokpedia in the current year of IDR177 bn per quarter, starting from February 2024. Therefore, the results of the e-commerce segment will turn positive. (Source : Investor Daily)