Markets abuzz with rumours as GoTo's share price slumped 20% last week

Markets abuzz with rumours as GoTo's share price slumped 20% last week

Founder and CEO of Indonesian e-commerce firm Tokopedia, William Tanuwijaya, poses for a photograph at Tokopedia headquarters in Jakarta, Indonesia, July 25, 2019. REUTERS/Willy Kurniawan

Shares of Indonesian tech behemoth PT GoTo Gojek Tokopedia Tbk (GoTo) plunged over 20% last week, from 83 rupiah apiece on Monday to an all-time low of 67 rupiah apiece on Friday, which saw its market capitalisation drop to 80.5 trillion rupiah from 101 trillion rupiah, according to Indonesia Stock Exchange (IDX) data.

Edited by: Joymitra Rai

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