Our conclusions are based on GSX’s own user and attendance data files (i.e., this is not from “scraping” data). The Company respects Muddy Waters' efforts. TAL Education called the report erroneous and deceptive. Muddy Waters Research, Muddy Waters Capital and/or the Muddy Waters Related Persons intend to continue transacting in the securities of Covered Issuers for an indefinite period after an initial report on a Covered Person, and such person may be long, short, or neutral at any time hereafter regardless of their initial position and views as stated in the research report published by Muddy Waters Research or Muddy Waters Capital. Further, any report on this site contains a very large measure of analysis and opinion. Sorry, your blog cannot share posts by email. GSX: Small Classes, Big Lies (GSX US) May 28, 2020 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 … Previously, GSX stated that the short report is confused and full of ignorance about its business. We also conclude that GSX greatly understates expenses. The reports on this website have been prepared by either Muddy Waters, LLC (“Muddy Waters Research”) or Muddy Waters Capital LLC (“Muddy Waters Capital”). 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. These Terms of Use govern current reports published by Muddy Waters Research and supersede any prior Terms of Use for older reports of Muddy Waters Research, which you may download from the Muddy Waters Research’s website. All reports are for informational purposes only. 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 … 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 … 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. Muddy Waters: 'We are short $GSX because we conclude that it is a near-total fraud.' 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. But MW doesn't regard this as an … 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] … 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. Muddy Waters’ report came weeks after Citron Research called GSX “ the most blatant Chinese stock fraud since 2011.” Citron accused … 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. You agree that use of the research on this website is at your own risk. Muddy Waters vowed to “show more GSX fraud” soon. So what On May 18, Muddy Waters said it was short GSX Techedu stock because the company was "a near-total fraud." Sign up for free newsletters and get more CNBC delivered to your inbox … Without users, there is no revenue. If you access this website, download or receive the contents of reports or other materials on this website on your own behalf, you agree to and shall be bound by these Terms of Use. 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 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 … Giving investment advice requires knowledge of your financial situation, investment objectives, and risk tolerance, and Muddy Waters Capital has no such knowledge about you. 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%. Posted with permission. Post was not sent - check your email addresses! 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). Neither Muddy Waters Research nor any Muddy Waters Related Person (including Muddy Waters Capital) are offering, selling or buying any security to or from any person through this website or reports on this website. 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 … TAL Education has almost doubled since Block … GSX has said Muddy Waters doesn’t understand its business model. However, investors should still hear them out to decide whether GSX … GSX Refutes Muddy Waters Research's Follow Up Report GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in … Amazingly, Chairman Chen has found a way to make GSX shares even more dangerous for long holders – he has pledged at least $318 million of stock. It went through the company's user data and said it's "highly confident" over 70% of users are fake and … 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 … You accept all risks in relying on the information on this website. 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. GSX, the online education firm that Muddy Waters called out in May, soared more than 200 per cent through August before paring some of its gains. We are short GSX because we conclude that it is a near-total fraud. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to email this to a friend (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on Telegram (Opens in new window). You represent that you have sufficient investment sophistication to critically assess the information, analysis and opinion on this website. 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. However, such information is presented “as is,” without warranty of any kind, whether express or implied. GSX data by YCharts. GSX Refutes Muddy Waters Research's Allegations BEIJING , May 19, 2020 / PRNewswire / -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after … Muddy Waters Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. 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 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 Company respects Muddy Waters' efforts. The reports are the property of the applicable Muddy Waters Entity that published that report. 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. 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