{
  "id": 9053909,
  "title": "GigaCloud technology director Chen Zhiwu sells $159,360 in shares",
  "url": "https://urgent.news/2026/09/22/gigacloud-technology-director-chen-zhiwu-sells-159-360-in-shares",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T01:31:12.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/insider-trading-news/gigacloud-technology-director-chen-zhiwu-sells-159360-in-shares-93CH-4909811"
  },
  "original_language": "en",
  "account": "GigaCloud Technology Inc (NASDAQ: GCT) director Chen Zhiwu recently sold 3,000 of the company's Class A Ordinary Shares, amounting to $159,360. The transactions took place on September 18, 2026, at prices between $52.88 and $53.48 per share. Following the sale, Chen currently holds 21,057 Class A Ordinary Shares. GigaCloud's stock price has surged 76% over the past year, currently trading near $53, with a P/E ratio of 11.8, suggesting the stock is undervalued. The company recently reported strong second-quarter results for 2026, beating analyst expectations with earnings per share of $1.65 and revenue of $411.64 million, a 28% year-over-year increase. This growth is attributed to both organic expansion and the acquisition of New Classic. GigaCloud has also announced a new $120 million share buyback plan, demonstrating its commitment to returning value to shareholders. However, an affiliated entity of CEO Lei Wu has a pending prepaid variable forward contract for up to 700,000 Class A ordinary shares, with 286,058 shares executed so far. The remaining shares are contingent on market conditions and expected to be finalized by September 30, 2026.",
  "summary": null,
  "key_points": [
    "Chen Zhiwu sold 3,000 GCT shares for $159,360 on September 18, 2026",
    "GCT stock price increased 76% in the past year to $53",
    "Company reported strong Q2 2026 results with 28% revenue growth"
  ],
  "editors_take": "The sale of shares by GigaCloud Technology director Chen Zhiwu comes as the company's stock price has surged and it has announced a new share buyback plan to return value to shareholders.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}