JAKARTA – Shares of PT Sarana Mitra Luas Tbk (SMIL) continued to decline today, Tuesday (18/3), in contrast to the period before the Indonesia Stock Exchange (IDX) flagged unusual market activity (UMA) due to unusual stock surges last week (14/3).

As monitored in the early session I, SMIL shares dropped by 7.41% or IDR 24 to IDR 300 per share at 10.50 AM WIB. The stock opened at IDR 326, with the highest price reaching IDR 334 and the lowest at IDR 264 per share.

Yesterday (17/3), the stock also closed lower by IDR 108 to IDR 324, with a trading volume of 263.92 million shares across 21,237 transactions, totalling IDR 98.44 billion. Over the past week, SMIL shares have corrected by 2.60%, or IDR 8, to IDR 300 per share.

This contrasts with a month ago when the stock gained 21.95%, or IDR 54, and surged 40.57%, or IDR 86, over the past six months. SMIL shares have skyrocketed by 79.52%, or IDR 130, over the past year.

Previously, the IDX had repeatedly warned investors about unusual price movements in SMIL shares on 17 October 2024, as well as on 15 and 30 January 2025.

In a disclosure, Yulianto Aji Sadono, Head of Transaction Supervision at the IDX, stated that the exchange is closely monitoring the stock's trading pattern.

Investors are reminded to pay attention to several factors, including SMIL’s responses to confirmation requests from the exchange, the company's performance, and its transparency. Investors are also advised to review any corporate actions if those actions have not yet been approved by shareholders. (LK/ZH)