Long Position on GCT @ $18.00 on 1/2/2024 (Momentum)

GigaCloud Technology Inc. (GCT) provides end-to-end B2B ecommerce solutions for large parcel merchandise.

Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.

The company was formerly known as Oriental Standard Human Resources Holdings Limited and changed its name to GigaCloud Technology Inc. in February 2021.

GigaCloud Technology Inc. was founded in 2006 and is headquartered in Walnut, California.

GigaCloud Technology Inc. reported earnings of $0.59 per share on revenue of $178.17 million for the third quarter ended September 2023. The consensus earnings estimate was $0.38 per share on revenue of $163.75 million. The company beat consensus estimates by 55.26% while revenue grew 39.20% on a year-over-year basis.

With the momentum of the market overall increase, this stock should be optimistic for bullish investors.

Entry Point: $18.00

Trading Range: $4.79 - $19.50

Stop Loss: $17.10

Target Price: $19.80

Updates

1/3/2024 1:51:49 AM

Position closed at $20.41.

Position closed on 1/3/2024 at price of $20.41 with a 13.39% gain in 0 days.

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