Economic Conditions: Overall economic growth, inflation, and interest rates in Indonesia influence consumer spending on MAP Aktif Adiperkasa's products, affecting revenue and stock price.

Company Performance: MAPI's financial results, including revenue growth, profitability, and debt levels, are key drivers. Positive earnings reports usually lead to price increases.

Industry Trends: The retail and sports apparel industries' growth, competition, and changing consumer preferences impact MAPI's sales and, therefore, the stock price.

Market Sentiment: Investor confidence and overall market trends in the Indonesian stock exchange (IDX) can sway MAPI's stock price, regardless of the company's fundamentals.

Regulatory Changes: Government regulations related to retail, imports, and taxes can affect MAPI's operational costs and profitability, influencing investor perceptions.

Currency Fluctuations: Changes in the Indonesian Rupiah's exchange rate, particularly against the US dollar, impact the cost of imported goods and can affect MAPI's profitability.

Global Events: Major global events like economic crises, pandemics, or political instability can impact consumer behavior and supply chains, indirectly affecting MAPI's stock.