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GigaCloud Technology Inc - $GCT STOCK NEWS

Welcome to our dedicated page for GigaCloud Technology news (Ticker: $GCT), a resource for investors and traders seeking the latest updates and insights on GigaCloud Technology stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GigaCloud Technology's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GigaCloud Technology's position in the market.

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GigaCloud Technology Inc, listed as Nasdaq: GCT, will release its unaudited financial results for the first quarter of 2024 on May 9, 2024. The company specializes in B2B technology solutions for larger parcel merchandise. A conference call will be held at 8:00 AM Eastern Time on the same day for a discussion of the results.

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GigaCloud Technology Inc, listed as Nasdaq: GCT, has expanded its global fulfillment network by surpassing 10 million square feet, marking a 169% increase. The new Ontario fulfillment center, spanning 562,100 square feet, is set to commence operations in July 2024. This expansion enhances support for GigaCloud's B2B marketplace participants, strengthening the company's ability to deliver efficient fulfillment solutions.

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GigaCloud Technology Inc (Nasdaq: GCT) launches 'Branding-as-a-Service' Program to enhance furniture suppliers' competitiveness. Sellers can sell approved products under Christopher Knight Home brand. The program offers guidance, quality control, and brand management, aiming to expedite brand-building and product life cycle processes.
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GigaCloud Technology Inc (Nasdaq: GCT) files its annual report on Form 10-K for the fiscal year ended December 31, 2023 with the SEC, showcasing its performance and financial standing.
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GigaCloud Technology Inc (GCT) reported record profitability with a 94.8% increase in revenues in the fourth quarter of 2023. The full year 2023 saw significant growth in total revenues, gross profit, net income, and adjusted EBITDA. Operational highlights showed growth in GigaCloud Marketplace GMV, active sellers, active buyers, and spend per active buyer. The acquisitions of Noble House and Wondersign contributed to the financial results. Despite a warehouse fire in Japan, the Company remains optimistic about its future performance.
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GigaCloud Technology Inc (Nasdaq: GCT) will report unaudited financial results for Q4 and full year 2023 on March 15, 2024. A conference call to discuss the results will be held on March 18, 2024, at 8:30 AM Eastern Time.
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GigaCloud Technology Inc (Nasdaq: GCT) has been awarded in Furniture Today’s 2023 Reader Rankings as a winner in the “Best Logistics Technology Company” and “Best Ecommerce Technology” categories, as well as being a top three finalist in the “Industry’s Leading Innovator” category. The company's industry-leading B2B ecommerce platform, GigaCloud Marketplace, has been recognized for its value in integrating the entire supply chain process from discovery, payments, and logistics tools into an easy-to-use platform, allowing marketplace participants to execute cross-border transactions with confidence, speed, and efficiency.
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GigaCloud Technology Inc (Nasdaq: GCT) announced its unaudited financial results for the quarter ended September 30, 2023. The company reported total revenues of $178.2 million, a 39.2% increase from the same quarter in 2022. Gross profit was $48.9 million, up by 117.3%. Net income saw a significant increase of 3,357.1%, reaching $24.2 million. The company's cash position was strong, with $214.0 million in cash and $0.9 million in restricted cash as of September 30, 2023.
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GigaCloud Technology Inc (Nasdaq: GCT) announced the completion of the acquisition of Wondersign, a cloud-based interactive digital signage and e-catalog management SaaS company. The $10.0 million acquisition aims to enhance the GigaCloud Marketplace and launch the GIGA IQ™ package, offering interactive personalized product recommendations and seamless product search and transaction capabilities. This strategic move broadens GigaCloud's reach to approximately 2,500 storefronts nationwide, empowering retailers to manage supply chains more efficiently and boost transactional effectiveness.
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GigaCloud Technology Inc (Nasdaq: GCT) provided an update on the status of the independent review initiated in response to claims made by short-seller firm Culper Research. The review, conducted by the Company's audit committee with the assistance of independent professional advisors, including White & Case LLP and FTI Consulting, concluded that the claims in the Short Seller Report were not substantiated.
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GigaCloud Technology Inc

Nasdaq:GCT

GCT Rankings

GCT Stock Data

1.64B
20.54M
7.7%
38.22%
6.88%
Electronic Shopping
Retail Trade
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United States of America
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