HK's GigaCloud triples, joins meme mania after IPO

GigaCloud Technology

19/08/2022 16:27

** Shares of GigaCloud Technology Inc  GCT.O  soar 237.8% to
$53.00 on Fri, a day after popping in their Nasdaq debut
    ** Hong-Kong based e-commerce firm's shares on Thurs closed
at $15.69 for a debut-day gain of 28% after 2.94 mln Class A
share IPO priced at $12.25  urn:newsml:reuters.com:*:nL1N2ZV0O4 - (SEC filing https://www.sec.gov/Archives/edgar/data/1857816/000119312522224561/d160437d424b4.htm)
 [
    ** GCT top trending ticker on retail investor-focused
Stocktwits.com https://stocktwits.com/rankings with message
volume up about 3,000%. Stock also among most ordered by
Fidelity's individual investor customers
    ** But other meme darlings are heading in the opposite
direction on Fri
    ** Bed Bath & Beyond's shares  BBBY.O  sinking 41.2% after
Ryan Cohen dumped his entire position in struggling home goods
retailer following a massive rally this month  urn:newsml:reuters.com:*:nL4N2ZU2DC
    ** Videogame chain GameStop  GME.N  sliding 7.5%
    ** Theater operator AMC  AMC.N  off 5.9% after flagging weak
film slate in Q3  urn:newsml:reuters.com:*:nBw4fmvQpa
    ** Other fallers on the session: cosmetics firm Revlon
 REV.N  3.6%, sports streamer FuboTV  FUBO.N  9.6%, meal-kit
delivery co Blue Apron  APRN.N  8.6% and e-commerce firm Vinco
Ventures  BBIG.O  25.2%  urn:newsml:reuters.com:*:nL4N2ZV1MD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))