Fundamental and Technical Analysis of PT Bukalapak.Com Stock Investment Decisions in the Post-IPO Period 2021-2025 (JURNAL KEWIRAUSAHAAN AKUNTANSI DAN MANAJEMEN TRI BISNIS)

Summary

• PT Bukalapak.com Tbk raised approximately Rp21.9 trillion by offering 25.76 billion new shares at Rp850 per share during its August 6, 2021 IPO.p.2
• Indonesia's benchmark interest rate moved from 3.50% in 2021 to a peak of 6.00% in 2023 and 2024 before dropping to 4.75% in 2025.p.6
• The analysis concludes BUKA stock is unsuitable for long-term investors due to weak profitability, but short-term investors can leverage its price volatility.p.9

Key insights

1. Bukalapak raised approximately Rp21.9 trillion through its IPO, which accounted for 25% of its total issued and fully paid-in capital.p.2
2. Despite reporting comprehensive losses prior to listing, Bukalapak experienced oversubscription during its initial public offering.p.2
3. Indonesian tech stock returns post-IPO do not consistently differ from non-tech stocks, requiring firm-level financial evaluations.p.5
4. Compared to Coupang's average ROE of 2.284%, Bukalapak's average ROE of 0.17% reflects ongoing profitability struggles.p.8
5. High post-IPO volatility and recurring bearish signals make BUKA stock more suitable for short-term momentum strategies than long-term holdings.p.9