JAKARTA (Yosefardi) – Shares of Gowa Makassar Tourism Development (GMTD) retreated 5.88% this morning after gaining over 1,831% since late last month.
GMTD, a property developer in South Sulawesi, skyrocketed from Rp660 in late April to as high as Rp12750 on Monday (May 27) or a 1831% gain.
GMTD informed stock market authorities this morning that it is not in a possession of information that triggered the stock price hike.
The company also told market authorities that it has no immediate corporate action to launch. GMTD is a JV between Lippo Group and regional governments in South Sulawesi province.