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Is It Too Late to Buy GigaCloud Technology Stock?

TheMotleyFool

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Is It Too Late to Buy GigaCloud Technology Stock?: https://g.foolcdn.com/editorial/images/697359/workers-warehouse.jpg

GigaCloud Technology (NASDAQ: GCT) has taken investors on a wild ride since its initial public offering on Aug. 18. The Chinese e-commerce solutions company went public at $12.25, started trading at $19.20, and closed at $15.69 on its first day. But the following day, it soared as high as $60 and closed at $48.01.

Those post-IPO gains were stunning. But is GigaCloud becoming another meme stock like AMTD Digital (NYSE: HKD), the Hong Kong-based fintech company which saw its stock inexplicably skyrocket from $7.80 to over $2,500 after its IPO last month? Or is GigaCloud's recent rally actually sustainable?

Image source: Getty Images.

Source Fool.com

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