JAKARTA – The stock price of PT Bersama Mencapai Puncak Tbk (BAIK) plummeted 71.58% since its debut in the stock exchange until last Friday’s (17/5) session.

Based on the data compiled by IDNFinancials today (20/5), BAIK’s shares were set to IDR 278 per share during its debut on February 15. It even soared to IDR 346, the highest transaction price on that day, before arriving at IDR 210 per share at the closing bell.

On that day, the transaction volume was recorded at 239.08 million shares, recorded within 36,680 transactions worth IDR 57.78 billion. Foreign investors even took bites, indicated through foreign buy of 5.22 million shares, way above foreign sell of 1.01 million shares.

However, the liquidity and stock price has been steadily weakening, until last week (17/5), in which the closing price arrived at IDR 79 per share, while the lowest and the highest transaction price reached IDR 71 and IDR 79 per share. The transaction volume was recorded at 1.77 million shares within 214 transactions worth IDR 139.05 million. Foreign sell only reached 60,000, and foreign buy was reported at zero.

The issuer actually reported revenue of IDR 178.34 billion in 2023, leading to net profit of IDR 11.45 billion. (LK/ZH)