Our conclusions are based on GSX’s own user and attendance data files (i.e., this is n… more 6) My friend Carson Block of Muddy Waters Research was spot on in his warnings about Luckin Coffee, so investors would be wise to carefully consider his latest report about another Chinese company he believes is a fraud, online education provider GSX Techedu (GSX). GSX Refutes Muddy Waters Research's Follow Up Report PR Newswire BEIJING, May 29, 2020 BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX… The whole thing is good reading. On a high-volume move, GSX Techedu (GSX -5.3%) trades lower after Muddy Waters issues a negative report.As usual, the short-selling firm doesn't hold back, calling GSX a near-total fraud. This website is owned by Muddy Waters Research. Muddy Waters said they downloaded data from more than 200 paid K-12 education courses which equaled 54,065 unique users. We conclude that at least ~70% of its users are fake, and we think it’s quite likely that at least ~80% of its users are fake. Latest Reports. The Company respects Muddy Waters' efforts. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. The reports on this website have been prepared by either Muddy Waters, LLC (“Muddy Waters Research”) or Muddy Waters Capital LLC (“Muddy Waters Capital”). Muddy Waters Capital is an investment adviser with the U.S. Securities and Exchange Commission and is not registered as investment adviser in any other jurisdiction. May. All expressions of opinion are subject to change without notice, and neither Muddy Waters Research nor Muddy Waters Capital undertakes to update or supplement any reports or any of the information, analysis and opinion contained in them. Further, any report on this site contains a very large measure of analysis and opinion. Muddy Waters Capital is an investment adviser with the U.S. Securities and Exchange Commission and is not registered as investment adviser in any other jurisdiction. --GSX Techedu Inc., a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters … Muddy Waters said it reached this conclusion based on GSX Techedu's own user and attendance data files. Muddy Waters is Short Groupe Casino (CO:FP) Groupe Casino Guichard-Perrachon SA: 2015-12-17: Muddy Waters is Short TeliaSonera (TLSN.ST) TeliaSonera AB: 2015-10-15: Muddy Waters is Short Noble Group Ltd (NOBL:SP) Noble Group Ltd: 2015-04-08: Bolloré (BOL FP): Complexity Creating Arbitrage with over 95% Upside: Bolloré S.A: 2015-02-17 Copyright © 2021 Muddy Waters Research, All Rights Reserved. We detailed three behaviors we were highly confident evidenced widespread bot usage: “Precise Joiners”, “GSX… more, We are short GSX because we conclude that it is a near-total fraud. If you have obtained research published by Muddy Waters Research or Muddy Waters Capital in any manner other than by download from that link, you may not read such research without going to that link and agreeing to the Terms of Use. The Company respects Muddy Waters' efforts. GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters Research's latest 6-page report, dated May 28, 2020. We are short GSX because we conclude that it is a near-total fraud. Despite their recent swoon, the ADRs are still up 37% this year through Wednesday, outperforming peers New Oriental Education & Technology Group Inc. and TAL Education Group. The Company respects Muddy Waters' efforts. 29, 2020, 12:49 PM. On May 18th, we published our research on GSX in which we concluded that at least 70% of GSX’s purported users are fraudulent, and quite likely the real percentage of fake users is over 80%. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. Muddy Waters says that GSX founder and CEO Larry Xiangdong Chen recently pledged at least $318 million of his own stock. The research and reports presented on this website express the opinion of the applicable Muddy Waters Entity only. GSX Refutes Muddy Waters Research's Follow Up Report PR Newswire BEIJING, May 29, 2020 BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX… This limitation of liability applies regardless of any negligence or gross negligence of Muddy Waters Research, Muddy Waters Capital or any Muddy Waters Related Persons. On a high-volume move, GSX Techedu (GSX -5.3%) trades lower after Muddy Waters issues a negative report.As usual, the short-selling firm doesn't hold back, calling GSX a near-total fraud. It said it downloaded GSX's data from more than … GSX Techedu is a “near-total fraud” and worthless, according to one investment firm. GSX’s responses since consist largely of drivel, designed to obfuscate and lie. It also said that GSX was burning up investors' money. Muddy Waters’ misunderstanding may be because it didn’t try its live courses, or it did and ignored part of the process, a GSX spokeswoman wrote in an email. Muddy Water's 25-page report is detailed and explains how it came to its conclusions every step of the way. BEIJING, May 19, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters Research's latest report, dated May 18, 2020. --GSX Techedu Inc., a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters … To the best of the applicable Muddy Waters Entity’s ability and belief, all information contained herein is accurate and reliable, and has been obtained from public sources that the applicable Muddy Waters Entity believe to be accurate and reliable, and who are not insiders or connected persons of the Covered Issuers or who may otherwise owe a fiduciary duty, duty of confidentiality or any other duty to the Covered Issuer (directly or indirectly). Read More . BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters Research's latest 6-page report, dated May 28, 2020.After thoroughly analyzing the report, the Company would like to respond to some of the specific allegations: However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. In no event shall Muddy Waters Research, Muddy Waters Capital or any Muddy Waters Related Persons be liable for any claims, losses, costs or damages of any kind, including direct, indirect, punitive, exemplary, incidental, special or, consequential damages, arising out of or in any way connected with any information on this website. BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today refuted the false allegations in Muddy Waters Research's latest 6-page report, dated May 28, 2020.After thoroughly analyzing the report, the Company would like to respond to some of the specific allegations: We maintain our view that GSX is a massive fraud – i.e., it is a nearly empty box. Neither Muddy Waters Research nor Muddy Waters Capital will update any report or information on its website to reflect changes in positions that may be held by a Muddy Waters Related Person. Muddy Waters’ misunderstanding may be because it didn’t try its live courses, or it did and ignored part of the process, a GSX spokeswoman wrote in an email. The opinions, information and reports set forth herein are solely attributable to the applicable Muddy Waters Entity and are not attributable to any Muddy Waters Related Person (defined below) (other than the applicable Muddy Waters Entity). Muddy Waters is short GSX Techedu 6) My friend Carson Block of Muddy Waters Research was spot on in his warnings about Luckin Coffee, so investors would be wise to carefully consider his latest report about another Chinese company he believes is a fraud, online education provider GSX Techedu (GSX). 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