What’s Going On With GigaCloud Technology Stock Today? — TradingView News

GigaCloud Technology Inc GCT shares are trading lower. The stock appears to be pulling back after gaining on fourth-quarter earnings on Friday. The company held its quarterly conference call Monday morning.

What To Know: GigaCloud Technology shares raced higher on Friday after the company reported better-than-expected financial results.

GigaCloud reported fourth-quarter revenue of $244.74 million, which beat the consensus estimate of $224.15 million, according to Benzinga Pro. The company reported quarterly earnings of 87 cents per share, which beat estimates of 58 cents per share.

Marketplace GMV was up 53.3%, Active third-party sellers were up 45.5%, active buyers were up 20.5% and spend per active buyer was up 27.2% in the quarter.

“The fourth quarter saw our highest quarterly revenue in the company history, up almost 95% year-over-year, representing an inflection point in the size and scale of GigaCloud,” said Larry Wu, founder, chairman, and CEO of GigaCloud.

“The integration of Noble House and Wondersign marks as a significant step forward in our global expansion.”

GigaCloud guided for first-quarter revenue of $230 million to $240 million versus estimates of $210.2 million. The company held a conference call to discuss its quarterly results at 8:30 a.m. ET Monday morning.

See Also: Top 4 Tech Stocks That May Collapse In March

How To Buy GCT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in GigaCloud’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

GCT Price Action: GigaCloud shares were down 18.2% at $35.35 at the time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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