JAKARTA (Yosefardi) – Property developer Gading Development (GAMA) crashed by 25.6% to Rp61, its new low, Monday (January 6th).
The stock was traded as low as Rp55 with over 72 million shares exchanged hands. It gained substantially to Rp105 last week when stock market authorities lifted the trading suspension. But since December 30, the stock dropped steadily to Rp61 today.
In the period of July-October 2013, GAMA rallied from Rp350 to Rp510, but suddenly collapsed to Rp90 in November, which triggered IDX to impose trading halt.
Other property stocks also ended lower Monday, including Ciputra Property (-5%), Alam Sutera (-3.37%), and Bumi Serpong Damai (-3.1%). Surya Semesta, Summarecon Agung, and Lippo Cikarang also lost more than 4% each.