🔴 BUVA.JK hits lower limit, down 6.3% on massive rights issue fears and weak earnings

Shares of BUVA.JK fell 6.3% to IDR 675, hitting their auto-reject-lower (ARB) limit as the stock's steep decline continues. The sell-off is driven by significant fundamental concerns rather than just broader market sentiment.

• Pending 'Jumbo' Rights Issue: The primary driver is a planned rights issue of up to 50 billion new shares, which represents a 203% increase in shares outstanding and threatens massive dilution for current shareholders.
• Weak Q1 2026 Earnings: The company recently reported a swing to a net loss of Rp 8.25 billion for the first quarter of 2026, compared to a profit in the same period last year, with revenue also declining.
• Sustained Selling Pressure: The stock has been in a sharp downtrend over the past week, breaking key technical support levels amid high trading volume as investors react to the negative catalysts.