Indonesia ride-hailing and food delivery platform Goto shares fell nearly 13% at one point on Thursday, bringing the four-day decline to 44%. According to Sina Finance, the stock has been under pressure since the Indonesia Stock Exchange removed the 50 rupiah floor.

The exchange's move released selling pressure from investors who had been unable to exit at the required minimum price. Goto shares had been trading around 50 rupiah, or less than 1 cent, for about four months, and they fell to a record low of 28 rupiah. The four straight days of declines marked the longest losing streak since March.

Citigroup analysts said the stock is expected to find support near 28 rupiah, as the most recent negotiated-market trading price hovered around that level.