GigaCloud Technology Inc Joins Russell 2000 Index
01 July 2024 - 10:30PM
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/.
About FTSE RussellFTSE Russell is a leading
global provider of benchmarking, analytics, and data solutions for
investors, giving them a precise view of the market relevant to
their investment process. A comprehensive range of reliable and
accurate indexes provides investors worldwide with the tools they
require to measure and benchmark markets across asset classes,
styles, or strategies.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products, and
index-based derivatives.
FTSE Russell is wholly owned by London Stock Exchange Group.
Forward-Looking StatementsThis press release
contains “forward-looking statements.” Forward-looking statements
reflect our current view about future events. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on the Company’s current expectations and projections
about future events that the Company believes may affect its
financial condition, results of operations, business strategy and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as “may,” “will,” “could,”
“expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,”
“believe,” “is/are likely to,” “propose,” “potential,” “continue”
or similar expressions. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company’s
registration statement and other filings with the SEC. We have made
rounding adjustments to reach some of the figures included in this
press release. Consequently, numerical figures shown as totals may
not be arithmetic aggregations of the figures that precede
them.
For investor and media inquiries, please
contact:
GigaCloud Technology IncInvestor
Relationsir@gigacloudtech.com
PondelWilkinson, Inc.Laurie Berman (Investors)
– lberman@pondel.comGeorge Medici (Media) – gmedici@pondel.com
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