The … New York-listed GSX fell 7.4 per cent lower at US$32.84 in New York overnight, after earlier plunging by as much as 16 per cent following the release of the short report on Monday. We conclude that GSX is a massive loss-making business. It went through the company's user data and said it's "highly confident" over 70% of users are fake and … The Company respects Muddy Waters' efforts. Each report specifies the publisher and owner of that report. With respect to their respective research reports, Muddy Waters Research and Muddy Waters Capital makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. We downloaded GSX’s data from more than 200 paid K-12 classes covering 54,065 unique users. 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. You understand and agree that Muddy Waters Capital does not have any investment advisory relationship with you or does not owe fiduciary duties to you. Muddy Waters vowed to “show more GSX fraud” soon. GSX has said Muddy Waters doesn’t understand its business model. You (or any person you are acting as agent for) agree to hold harmless Muddy Waters Research, Muddy Waters Capital and its affiliates and related parties, including, but not limited to any principals, officers, directors, employees, members, clients, investors, consultants and agents (collectively, the “Muddy Waters Related Persons”) for any direct or indirect losses (including trading losses) attributable to any information on this website or in a research report. 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. China stock GSX Techedu sold off Monday after short seller Muddy Waters claimed almost all of the online-only education firm's purported students are in fact bots. Our conclusions are based on GSX’s own user and attendance data files (i.e., this is n… more. If you access this website, download or receive the contents of reports or other materials on this website as an agent for any other person, you are binding your principal to these same Terms of Use. So what On May 18, Muddy Waters said it was short GSX Techedu stock because the company was "a near-total fraud." Muddy Waters peels back the layers, often built up by seemingly respected but sycophantic law firms, auditors, and venal managements. Muddy Waters Research is an online research publication that produces due diligence-based reports on publicly traded securities, and Muddy Waters Capital LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Despite their recent swoon, the … You accept all risks in relying on the information on this website. I am more than happy to report a bull case for GSX providing it is presented with DD. The failure of Muddy Waters Research or Muddy Waters Capital to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of this right or provision. Copyright © 2020 Muddy Waters Research, All Rights Reserved. Reports are based on generally available information, field research, inferences and deductions through the applicable Muddy Waters Entity’s due diligence and analytical process. 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 … 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 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. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to this website or the material on this website must be filed within one (1) year after the occurrence of the alleged harm that gave rise to such claim or cause of action, or such claim or cause of action be forever barred. Under no circumstances should any of these reports or any information herein be construed as investment advice, or as an offer to sell or the solicitation of an offer to buy any securities or other financial instruments. 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. Without users, there is no revenue. The reports on this website have been prepared by either Muddy Waters, LLC (“Muddy Waters Research”) or Muddy Waters Capital LLC (“Muddy Waters Capital”). TAL Education called the report erroneous and deceptive. 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 … You agree that use of the research on this website is at your own risk. However, such information is presented “as is,” without warranty of any kind, whether express or implied. Carson Block is still short GSX Techedu Inc (NYSE: GSX) despite the stock's momentum in the opposite direction, the notable short seller said Wednesday in a Bloomberg TV interview.What … However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. Posted with permission. The … Muddy Waters Research is an online research publication that produces due diligence-based reports on publicly traded securities, and Muddy Waters Capital LLC is an investment adviser registered with the … Citron, for example, actually defended Luckin before another prolific short-seller, Muddy Waters, took down the stock. 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 Waters によれば，利用者の約 70% が偽造である。この情報は，GSX の学生利用者とその出席率のデータに基づく。Muddy Waters は，200 以上の有料 K-12 [幼稚園から高等学校卒業まで 13 年間] … 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. Muddy Waters Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. Muddy Waters Initiating Coverage on TRE.TO, OTC:SNOFF – Strong Sell Sino-Forest Corporation 2011-06-02 Muddy Waters Initiating Coverage on DGW – Strong Sell Duoyuan Global … Muddy Waters Research LLC is an American privately held due diligence based investment firm that conducts investigative research on public companies while also taking investment positions that … 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). This website is owned by Muddy Waters Research. The reports are the property of the applicable Muddy Waters Entity that published that report. If any provision of these Terms of Use is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and rule that the other provisions of these Terms of Use remain in full force and effect, in particular as to this governing law and jurisdiction provision. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. On May 18, research firm Muddy Waters told the world it was short GSX Techedu stock. On May 20, Muddy Waters tweeted in response to GSX. Regardless of how one cuts it though, GSX is an almost completely empty box. Use of Muddy Waters Research reports is limited by the Terms of Use on its website, which are as follows. 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