Friday, August 19, 2022 10:06:37 AM
9:55 am ET August 19, 2022 (MarketWatch)
Shares of GigaCloud Technology Inc. rocketed again it their sophomore session on Nasdaq, to trade at more than four-times the initial public offering price. The Hong Kong-based business-to-business (B2B) ecommerce platform for large parcel merchandise went public on the Nasdaq on Thursday, after the company raised about $36 million by selling 2.94 million shares at an IPO price of $12.25 a share. The stock opened Thursday at $19.20, or 56.7% above the IPO price, then traded within a intraday range of $12.51 to $21.22 before closing at $15.69, on volume of 11.5 million shares. On Friday, the stock gapped 69.8% higher at the open, starting the day at $26.64, before the rally accelerated to 144.0% to $38.28 (312.5% above the IPO price), on volume of 7.7 million shares in about the first 20 minutes after the opening bell. The stock has already been halted twice for volatility. The stock's rally comes while the Renaissance IPO ETF dropped 3.2% in morning trading and the S&P 500 slumped 1.0%.
-Tomi Kilgore
(END) Dow Jones Newswires
August 19, 2022 09:55 ET (13:55 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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Recent GCT News
- GigaCloud Technology Inc’s Founder, Chairman, and CEO Larry Wu Named Entrepreneur Of The Year® 2024 Greater Los Angeles Award Winner • GlobeNewswire Inc. • 06/17/2024 12:30:00 PM
- GigaCloud Technology Inc Wins Stevie® Award for Achievement in Growth • GlobeNewswire Inc. • 06/11/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 10:11:21 AM
- GigaCloud Technology Inc Responds to Short-Seller Report • GlobeNewswire Inc. • 05/23/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 11:23:40 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 10:10:27 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 10:10:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 10:10:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 10:04:23 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/18/2024 01:25:01 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 01:46:46 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 01:52:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 01:50:59 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/13/2024 09:59:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 01:27:42 AM
- U.S. Index Futures Dip, Bank of England Holds Interest Rates at 5.25% • IH Market News • 05/09/2024 11:47:20 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 10:50:06 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 10:43:57 AM
- GigaCloud Technology Inc Announces First Quarter Ended March 31, 2024 Financial Results • GlobeNewswire Inc. • 05/09/2024 10:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 01:51:02 AM
- GigaCloud Technology Inc to Announce First Quarter 2024 Financial Results and Host Conference Call on May 9, 2024 • GlobeNewswire Inc. • 05/02/2024 12:30:00 PM
- GigaCloud Technology Inc Expands Global Fulfillment Network to Support Continued Growth of Its B2B Marketplace • GlobeNewswire Inc. • 04/30/2024 12:30:00 PM
- GigaCloud Technology Inc Launches New Service • GlobeNewswire Inc. • 04/04/2024 12:48:44 PM
- GigaCloud Technology Inc Files Annual Report on Form 10-K for Fiscal Year 2023 • GlobeNewswire Inc. • 03/27/2024 08:12:07 PM
- GigaCloud Technology Inc Announces Fourth Quarter 2023 and Year Ended December 31, 2023 Financial Results • GlobeNewswire Inc. • 03/15/2024 12:00:00 PM
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