Oops! Manoj Punjabi Sells FILM Shares, Then There Are Pomps

Jakarta, CNBC Indonesia – Owner and President Director of PT MD Pictures Tbk (FILM) Manoj Dhamoo Punjabi, in an information disclosure reporting the sale of FILM shares.

In the disclosure of information, it was noted that Manoj was recorded as selling at a price of IDR 324/unit of 1 million lots and IDR 338/unit of 300 thousand lots on January 15 2021 and received funds of IDR 425.4 million for investment reasons.

Meanwhile, Manoj bought back on the same day with the same lot at a price of IDR 326/unit at a price of IDR 423.8 million for investment reasons. This means that from these two transactions Manoj managed to make a profit of IDR 1.6 million.

Manoj sold his shares on January 15, at which time FILM’s shares were flying, touching their highest level, alias ARA, at 25%.

Then, recently, FILM’s shares were wildly traded due to indications that they were stir-fried using the pump and dump method by market players.

The pump and dump method is a method of frying shares in which an unscrupulous person purchases at a low price, then after controlling the circulating goods, the unscrupulous person will easily drive the share price up (cornering).

After the stock has shot up, usually the unscrupulous person will do pom-poms and promote these shares to retail investors to be bought up with the lure of these shares whose fundamentals are very bright and will fly higher.

When a retail investor is interested in buying, the person will sell the shares at a high price, alias distribution, and make a large amount of profit.

OJK itself has asked FILM management regarding the volatility of stocks in the last few days. FILM’s management said they were not aware of any material facts that could affect the share price.

Currently, it is observed that FILM shares have fallen to their lowest level, alias ARB, which has corrected 6.90% to the level of IDR 324/unit.

[Gambas:Video CNBC]

(hps/hps)