GigaCloud Technology Reaches Highest Profitability in the Company’s History in Q1 2023

(24/7 MARKET NEWS) – GigaCloud Technology Inc (NASDAQ: GCT) announced, this morning, its unaudited financial results for the quarter ended March 31, 2023 and the highlights included that it increased its total revenues, gross profit, net income, cash position, and adjusted EBITA.

GigaCloud Technology is trading at $6.41, up $0.75 (+13.25%), on 75.7K premarket shares traded.

Its 52-week range is $4.14 to $62.00. This looks like it should reach new 2023 highs, but it’s a foreign based listing, so we like thinking in terms of swing or scalp, as opposed to thinking long term hold.

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