Is Gojek stock ever going to revive?
Left Gojek around 6 months ago. I was hoping that there will be some positive price movement given a lot of folks were literally saying "wait for the end of year, when we become profitable". I have been tracking the price passively but seems like its only going downhill. My ESOP value is another related sob story. It seems like there is a much longer wait. How is the mood at the org? Is there a silver lining?
Did look a bit into their stock
Honestly, it looked pretty bad because the merger involved both companies that were burning through a lot of cash, and the market just became harsh(or fair)
Compare it with SEA (where Shopee is not EBITDA +ve)
Now with Toko gone, will have to see how GoJek turns around. Is it a very strong user love business, definitely, the revenue retention is great. It’ll just take some time and no more leadership shakeups
Actually selling Toko was a good move by GOTO. With Bytedance as partner they have lot of upside to gain.
You should read the investment prospectus and see where the revenue is coming from. Majority is from food and transport; and they’ve more or less saturated their main market (Indonesia Tier 1) while aggressively cutting costs. I think they are mota mota EBITDA positive but they have to expand into new markets / segments so expect the stock price to stay around this number for at least another year or two.
If they are not able to rescue the stock, I also foresee a sale of Gojek, either to Sea group or Grab.
It's all speculation at this point of time. It will probably go up in the next year but definitely not as high as when I got the units assigned. I believe it will take at least one more year to streamline all the BUs and cut costs. And when they have healthy cash flow they can think about expanding and promotions.
Discover More
Curated from across
