Zinger Key Points
- GigaCloud stock pushed higher by roughly 10% on Thursday.
- Shares have rallied almost 50% over the past month.
- The new Benzinga Rankings show you exactly how stocks stack up—scoring them across five key factors that matter most to investors. Every day, one stock rises to the top. Which one is leading today?
GigaCloud Technology Inc GCT shares traded higher on Thursday, adding to gains of more than 50% over the past month. Here's a look at what's going on.
What To Know: GigaCloud shares surged nearly 14% on Thursday, breezing past many of its peers in the tech sector and rebounding from a slight pullback on Wednesday.
Shares have rallied throughout December, sparked by strong third-quarter earnings from the B2B e-commerce company. Roth MKM analyst Matt Koranda also raised the price target on the stock from $16 to $18 shortly after the report.
Thursday's move higher was aided by strong trading volume, with the stock experiencing above-average volume of 3.36 million, compared to its average volume of 975,194 according to Benzinga Pro.
Shares of GigaCloud hit 52-week highs on Thursday before pulling back slightly. The stock closed Thursday up 10.2% at $20.47, according to Benzinga Pro.
Related Link: Why Tradeweb Markets Stock Is Moving
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