Where Will GigaCloud Stock Be in 1 Year?
GigaCloud's (NASDAQ: GCT) stock price tumbled 12% on Sept. 30 after the Chinese e-commerce services company posted its second-quarter earnings report. Revenue rose 11% year over year to $124 million, but adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) declined 53% to $7.8 million. Net income also fell 55% to $6.1 million, while earnings per share (EPS) plunged 65%.
Those numbers were unimpressive, but investors might recall that GigaCloud briefly became a meme stock after its public debut at $12.25 on Aug. 18. It started trading at $19.20, inexplicably skyrocketed to an intraday high of $62 the following day, but now trades at about $10 a share. Should investors give GigaCloud a second look as it slumps below its IPO price? Let's dive deeper and see where it could be headed in a year.
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Source Fool.com
