GoTo Shares Are Tipped for Rebound After $2.2 Billion Selloff Tokopedia mascot Toped at the Tokopedia Tower in Jakarta.Photographer: Dimas Ardian/Bloomberg Southeast Asia’s worst-performing tech stock this year is poised to rebound as it makes strides toward sustained profits and its fintech business provides plenty of upside potential, analysts say. The beaten-down shares of Indonesia’s PT GoTo Gojek Tokopedia fail to reflect its ongoing profitability turnaround, according to JPMorgan Chase & Co. and Aletheia Capital. The e-commerce firm’s financial discipline and buybacks also point toward the prospect of an upward re-rating, SGMC Capital says.
goto-shares-are-tipped-for-rebound-after-2-2-billion-selloff-tokopedia-mascot-toped-at-the-tokopedia-tower-in-jakarta-photographer-dimas-ardian-bloomberg-southeast-asias-worst-performing-te

GoTo Shares Are Tipped for Rebound After $2.2 Billion Selloff

Tokopedia mascot Toped at the Tokopedia Tower in Jakarta.Photographer: Dimas Ardian/Bloomberg
Southeast Asia’s worst-performing tech stock this year is poised to rebound as it makes strides toward sustained profits and its fintech business provides plenty of upside potential, analysts say.

The beaten-down shares of Indonesia’s PT GoTo Gojek Tokopedia fail to reflect its ongoing profitability turnaround, according to JPMorgan Chase & Co. and Aletheia Capital. The e-commerce firm’s financial discipline and buybacks also point toward the prospect of an upward re-rating, SGMC Capital says.