GigaCloud Director Sells Shares After Stock Hits 52-Week High
Zhiwu Chen, director of GigaCloud Technology Inc. (NYSE: GCT), sold 3,000 shares at a weighted average price of $52.67 in late September 2026 after the stock reached its 52-week high earlier that month. The transaction is valued at approximately $158,000 and left Chen with a remaining stake of 24,057 Class A Ordinary Shares worth around $1.24 million as of September 16, based on market close price. GigaCloud Technology has delivered strong performance in recent months, posting a one-year return of 68% through mid-September and reporting Q2 revenue growth of 28%, with diluted EPS rising by 39%. The company's TTM net income stands at $156.1 million on revenues of $1.5 billion, reflecting robust profitability. The sale is considered a discretionary move rather than an indication of concern about the business outlook or stock fundamentals.
Tickers: $GCT