Business
GigaCloud Technology Inc Joins Russell 2000 Index
EL MONTE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B
About this update from Gigacloud Technology Inc
[{"type":"text","content":"EL MONTE, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B technology solutions for large parcel merchandise, today announced that it has been added to the Russell 2000® Index effective June 28, 2024, after the U.S. market close. \"Being included in the Russell 2000 Index signifies GigaCloud’s significant growth and the progress we have made over the last year,\" said Larry Wu, Founder, Chairman, and Chief Executive Officer of GigaCloud. \"We take great pride in achieving this milestone, which will enhance the Company’s visibility within the investment community as we continue to solidify our position at the forefront of streamlining the global wholesale supply chain for large parcel merchandise.\" The Russell indexes are widely used by investment managers and institutional investors for index funds, and as benchmarks for active investment strategies. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. The Russell 2000 Index is a subset of the Russell 3000® Index, and its membership is updated annually and remains in place for one year. For more information about the reconstitution of Russell’s indexes, please visit the FTSE Russell website. About GigaCloud Technology IncGigaCloud Technology Inc is a pioneer of global end-to-end B2B technology solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/. Abo...