Indonesian online car-hailing and takeout platform Goto shares once fell nearly 13% on Thursday, with a cumulative decline of 44% over the four trading days. The company's shares have been under pressure since the Indonesia Stock Exchange lifted the minimum share price limit of IDR 50. The exchange's move unleashed selling pressure on investors who had previously had a long backlog of investors who were unable to exit at the stipulated minimum price. Goto's share price has been hovering around IDR 50 for about four months. The stock price has now fallen to a record low of IDR 28; four consecutive days of decline set a record for the longest continuous decline since March this year. Citigroup analysts said the stock is expected to find support around IDR 28 as the price of the latest transaction in the negotiated market hovered around this level.

Indonesian online car-hailing and takeout platform Goto shares once fell nearly 13% on Thursday, with a cumulative decline of 44% over the four trading days. The company's shares have been under pressure since the Indonesia Stock Exchange lifted the minimum share price limit of IDR 50. The exchange's move unleashed selling pressure on investors who had previously had a long backlog of investors who were unable to exit at the stipulated minimum price. Goto's share price has been hovering around IDR 50 for about four months. The stock price has now fallen to a record low of IDR 28; four consecutive days of decline set a record for the longest continuous decline since March this year. Citigroup analysts said that the stock is expected to be supported around IDR 28 as the price of the most recent transaction in the negotiated market hovered around this level.