Why GigaCloud Stock Soared Higher on Friday
Shares of business-to-business (B2B) e-commerce company GigaCloud (NASDAQ:GCT) skyrocketed on Friday. The stock rose as much as 272% but is up about 175% as of 1:25 p.m. ET.
The tech stock's gain came on the day of its initial public offering (IPO). Given the way the stock is soaring, the market apparently thinks the IPO was underpriced.
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Source Fool.com
