Is GigaCloud the next AMTD?
GigaCloud Technology $GigaCloud Technology Inc(GCT)$traded for the first time opening at $19.20 after pricing 2.94 million Class A ordinary shares at IPO price of $12.25. The stock reached a high of $21.22, before sliding to alow of $12.51. The stock closed at $15.69 but has since gained about 16% in after hours, at $18.20.
Based in Hong Kong, GigaCloud provides e-commerce solutions for the discovery, payment and shipping of large merchandise such as furniture and appliances. The company connects manufacturers based primarily in Asia with online resellers in Asia, the US and Europe.
Total outstanding shares is 30.43 million, compared to the 2.94 million available shares. Will this become the next AMTD $AMTD Digital Inc.(HKD)$ that managed to surge to $2,500 at one point before crashing back down to earth?
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