The Relationship between News Portals Sentiment and GoTo Stock Daily Price Movement

PT GoTo Gojek Tokopedia Tbk (GoTo), the first decacorn in Indonesia, has shown its com- mitment to supporting global sustainable development goals by 2030. GoTo started its Initial Public Offering on 11 April 2022, and has attracted national news portals to write about its business performances. This research investigates the relationship between news portal sen- timent and GoTo stock daily price movement. Firstly, articles from news portals related to GoTo were collected from 12 April to 30 September 2022. Next, Netlytics monitoring tools were used to categorize articles as positive or negative sentiments, and the simple linear re- gression analysis was done using Microsoft Excel. The result shows a moderate positive cor- relation between news portals sentiment and GoTo stock daily price movement (r = 0.41 ; p = 0.0018), but it also proves that the former could not be used as a sole indicator to predict the latter (R2 = 0.1685 ; p = 0.0018). Finally, it reveals that 32.7 % of articles with positive sentiment were published on the same days as the days with stock price increases, and the news about the increase in GoTo transactions and revenues dominated those articles.