GigaCloud Technology Stock Jumps 25%

Shares of GigaCloud Technology Inc. (GCT) are jumping over 25% on Monday morning.

GCT is currently trading at $5.89, up $1.23 or 26.42%, on the Nasdaq, on a volume of 11.8 million shares, above average volume of 2.5 million. The stock opened its trading at $6.36 after closing Friday's trading at $4.66. The stock has traded between $4.14 and $62.00 in the past 52-week period.

Last Thursday, GigaCloud Technology announced that it is opening an office in Malaysia to increase its presence in Southeast Asia.

GigaCloud Technology 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.

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