GigaCloud Director Sells Shares After Stock Hits 52-Week High
Zhiwu Chen, a director at GigaCloud Technology Inc. (NASDAQ:GCT), sold 3,000 shares of Class A Ordinary Shares in late September after the stock reached its 52-week high earlier that month. The sale occurred on two separate dates and was disclosed via an SEC Form 4 filing. Chen retained a significant equity stake post-transaction with approximately $1.24 million worth of shares remaining, indicating continued alignment with shareholder interests. GigaCloud Technology has experienced strong performance in recent months, delivering a 68% return over the past year and reporting Q2 revenue growth of 28%. The company's B2B e-commerce platform connects Asian manufacturers with resellers globally for bulky merchandise. With trailing twelve-month revenue of $1.5 billion and net income of $156.1 million, GigaCloud has demonstrated robust profitability.
Tickers: $GCT