GigaCloud Tech (GCT) January $25 calls added 1500X from trades on 8/19 that bought the contracts at $2.65 to $3.30. GCT currently has an equal number of calls in open interest as puts with ~ 28,000. A trade on 8/8 bought 3000 October $25 straddles expecting volatility.

GCT shares recently broke down under the 200-MA and are trying to base near the $21 level which is a key volume node of support while above $23.50 is a volume pocket for a move back to $28.

GCT is a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. The GigaCloud Marketplace integrates everything from product discovery to payments to logistics tools into one easy-to-use platform. The 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.  GCT has AI software that generates seller ratings and credit profiles through volume data.

GCT has a market cap of $950M and trades 5.7X Earnings, 8.45X FCF and 7X EBITDA though carries a lot of debt. GCT misses EPS estimates this past quarter due to the April/May spike in freight costs but continues to post impressive GMV growth.

Analysts have an average target $53 of and short interest has steadily risen to 12.8% of the float from 5% in early March. Maxim started shares at Buy with a $69 target in May expecting market share gains from the network effect. Grizzly Research issued a short report in May with concerns of shell companies and seems to be disguising costs as revenue.