IDX Suspends BSA Logistics After 300% Stock Surge Triggers Investor Alert
Jakarta. Indonesia Stock Exchange (IDX) on Monday suspended trading in BSA Logistics Indonesia after the stock surged more than 300% in just a month, triggering concerns over abnormal price movement.
The exchange halted shares of BSA Logistics Indonesia (WBSA) following what it described as a significant cumulative price increase. Data from Stockbit showed the stock had jumped 307.7% over the past month and gained the same magnitude on a year-to-date basis.
Yulianto Aji Sadono, head of transaction supervision at the IDX, said the suspension is intended as a cooling-off measure to safeguard investors.
“The temporary suspension is carried out to give investors time to carefully consider available information before making investment decisions,” he said in a disclosure on Monday.
He added that all stakeholders are expected to closely monitor any material disclosures issued by the company.
Prior to the suspension, WBSA had already been flagged under Unusual Market Activity (UMA) and placed under close monitoring by the exchange on April 17.
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