GoTo Faces MSCI Exclusion as Market Value Collapses

Indonesian tech giant GoTo Gojek Tokopedia will be removed from the MSCI Indonesia index by the end of the month, a move that further underscores the company’s dramatic decline. Once a $29 billion market titan, the ride-hailing firm now faces a reality of stagnant shares and shrinking investor confidence.

Editorial·August 13, 2026·reads: 819

GoTo Faces MSCI Exclusion as Market Value Collapses

The company’s market capitalization has cratered to $3.2 billion, a stark departure from its former standing as one of the country's most valuable enterprises. Since mid-May, the stock has languished at 50 rupiah—less than one U.S. cent—hitting the minimum threshold required for trading on the exchange's main boards.

This exclusion follows a period of mounting regulatory and index pressure. MSCI initially paused changes to the company’s index status in May, citing concerns over low liquidity that prevented index-tracking investors from executing trades effectively. Compounding these struggles, FTSE Russell removed GoTo from its global equity index series in June. That decision was triggered by the stock’s move to the Indonesian stock exchange's development board, a tier that fails to satisfy the eligibility criteria for the FTSE Russell GEIS.