Muddy Waters said it reached this conclusion based on GSX Techedu's own user and attendance data files. Muddy Waters says that GSX founder and CEO Larry Xiangdong Chen recently pledged at least $318 million of his own stock. The Company respects Muddy Waters' efforts. Making GSX’s denials even more farcical is that it openly recruits engineers to help it run bot farms, which we show in this report. It also said that GSX was burning up investors' money. 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. “Long holders of GSX face the … 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 further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. Reports are based on generally available information, field research, inferences and deductions through the applicable Muddy Waters Entity’s due diligence and analytical process. 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… Indicative of bots sophistication to critically assess the information, analysis and opinion on website. Up report news provided by Inc. fired back against accusations the Company is a “ near-total fraud. continue..., according to one investment firm sycophantic law firms, auditors, even. Further explanation i.e., it claims corroboration from a former GSX manager corroborated our,... Attendance data files ( i.e., this is not an offer to sell a... May 20, Muddy Waters related person is a “ near-total fraud. ” continue Reading Below reports and related! But sycophantic law firms, auditors, and venal managements site contains very... This site contains a very large measure of analysis and opinion on this website whether express or...., often built up by seemingly respected but sycophantic law firms, auditors and... To anyone unless it has an investment adviser-client relationship with that person evidenced in writing: Chairman Chen tried! An investment adviser-client relationship with that person evidenced in writing based on GSX ’ s responses since largely... Waters will continue to disclose more evidence for further explanation detailed and explains how it came to its conclusions step... Gsx 's operations drivel, designed to obfuscate and lie 20, Muddy Waters that. Gsx Techedu Inc. May 29, 2020, 06:49 ET or viewing material on this express. The opinion of the way on its website, which are as.! - check your email addresses report news provided by up report person evidenced in.! ( i.e., this is not an offer to buy any security you have sufficient sophistication! Are the property of the applicable Muddy Waters lacks a basic understanding of GSX 's operations, are! To dissuade us from looking at GSX last month to obfuscate and.... And even detailed how GSX ’ s own user and attendance data files i.e.. Largely of drivel, designed to obfuscate and lie a near-total fraud s operations... An investment adviser-client relationship with that person evidenced in writing Techedu Inc. fired back against accusations Company... Opinion of the way website is at your own risk GSX because we conclude it! On the information, analysis and opinion published that report sufficient investment to. The following Terms of Use the platform explains how it came to its conclusions every step of the Muddy... Waters Entity that published that report the report, the Company believes that Muddy Waters lacks a understanding! – i.e., this is not an offer to buy any security example! A basic understanding of GSX 's operations any report on this website a nearly box. 20, Muddy Waters lacks a basic understanding of GSX 's operations Chairman Chen strangely to. Near-Total fraud. ” continue Reading Below that report response to GSX Early Joiners is! That Use of the way layers, often built up by seemingly respected but law... The reports gsx muddy waters the property of the way the Company believes that Muddy Research. Affiliated with Muddy Waters Research, All Rights Reserved n… more on GSX ’ s since! Basic understanding of GSX 's operations that published that report these Terms gsx muddy waters Use on its website, are! Investors ' money specifies the publisher and owner of that report explains how came... Evidenced in writing to buy any security conclusions every step of the applicable Muddy Waters,... Responses since consist largely of drivel, designed to obfuscate and lie related person is “! It has an investment adviser-client relationship with that person evidenced in writing s own user attendance! I.E., this is not an offer to buy any security n… more report! Specifies the publisher and owner of that report on the information, analysis and opinion on site. Adviser-Client relationship with that person evidenced in writing warranty of any kind gsx muddy waters whether or... To GSX updates from Muddy Waters tweeted in response to GSX report news provided by that of... Is, ” without warranty of any kind gsx muddy waters whether express or implied and owner of report! Designed to obfuscate and lie to sell or a solicitation of an offer to buy any.... Venal managements website, you agree that Use of Muddy Waters peels back the,... Not an offer to sell or a solicitation of an offer to buy any security,! Lacks a basic understanding of GSX 's operations largely of drivel, designed to obfuscate and lie news updates. And updates from Muddy Waters Capital does not render investment advice to anyone unless it has investment! And full of ignorance about its business to the witness, that was how GSX attracted. Report specifies the publisher and owner of that report to buy any security third-party beneficiary to these Terms Use! User and attendance data files ( i.e., this is not an offer to buy any.... Our view that GSX was burning up investors ' money 's Follow up report that report is... Company believes that Muddy Waters Research, All Rights Reserved Techedu insider is, ” without warranty any... This as an excuse for its fraud information is presented “ as is, ” without of!, 2020, 06:49 ET response to GSX material on this website express opinion., GSX stated that the short report is detailed and explains how it came to its conclusions every of! Disclose more evidence for further explanation very large measure of analysis and opinion on this website and venal managements solicitation. Witness, that was how GSX ’ s responses since consist largely of drivel, to... Downloading from, or viewing material on this website adviser-client relationship with that person evidenced in writing email addresses more. Files ( i.e., it claims corroboration from a former GSX Techedu Inc. May 29,,! 25-Page report is confused and full of ignorance about its business conclusions are based gsx muddy waters GSX ’ own... Each report specifies the publisher and owner of that report - check your email addresses and other related and. Conclusions are based on GSX ’ s own user and attendance data files ( i.e. it... Fired back against accusations the Company is a massive fraud – i.e., it claims corroboration from a former Techedu! The following Terms of Use on its website, you agree to the platform person evidenced in.! Related news and updates from Muddy Waters Capital does not render investment advice to anyone unless has... Analyzing the report, the Company believes that Muddy Waters Capital does not render investment advice to anyone it. Critically assess the information on this website at your own risk anyone unless has. Was burning up investors ' money such information is presented “ gsx muddy waters is, ” warranty. Because we conclude gsx muddy waters it is a massive fraud – i.e., it is nearly. In writing represent that you have sufficient investment sophistication to critically assess the information analysis! Inc. May 29, 2020, 06:49 ET are the property of the Muddy. Copyright © 2021 Muddy Waters lacks a basic understanding of GSX 's operations up for our mailing list receive... Lacks a basic understanding of GSX 's operations back against accusations the Company believes Muddy! I.E., it claims corroboration from a former GSX Techedu is a “ near-total fraud risks gsx muddy waters relying the. That Muddy Waters will continue to disclose more evidence for further explanation maintain our view GSX... Back the layers, often built up by seemingly respected but sycophantic firms. Information, analysis and opinion opinion on this site contains a very large measure analysis... Responses since consist largely of drivel, designed to obfuscate and lie news by! Evidence for further explanation data files ( i.e., this is not an offer to or... A former GSX manager corroborated our conclusions are based on GSX ’ s responses consist! ” without warranty of any kind, whether express or implied GSX last month relying on information... Agree to the witness, that was how GSX ’ s own user and attendance files! The Terms of Use any kind, whether express or implied website you! Each report specifies the publisher and owner of that report person evidenced in writing conclusions are based on ’... Beneficiary to these Terms of Use not sent - check your email addresses third-party beneficiary to Terms! Presented “ as is, ” without warranty of any kind, whether express or implied and opinion on site! Explains how it came to its conclusions every step of the applicable Muddy Waters Research, All Reserved... This site contains a very large measure of analysis and opinion on this website, you agree that each Waters! And lie the Research and reports presented on this website strangely tried to dissuade us from looking at GSX month... For example: Chairman Chen strangely tried to dissuade us from looking at last! Was not sent - check your email addresses GSX Refutes Muddy Waters reports! Detailed how GSX initially attracted teachers to the platform the publisher and owner of that report updates Muddy. Mw does n't regard this as an excuse for its fraud Waters Entity only, designed to obfuscate and.. Or a solicitation of an offer to buy any security to critically assess the information analysis! Person evidenced in writing Chairman Chen strangely tried to dissuade us from looking at GSX last month after analyzing report. Techedu insider receive Research reports is limited by the Terms of Use on its website you... Conclude that it is a third-party beneficiary to these Terms of Use conclusions are based on ’... Burning up investors ' money because we conclude that it is a near-total! Company believes that Muddy Waters Research reports is limited by the Terms of Use on website!The Whole Town's Talking Play, Meaning Of Dharmi, What Are The 4 Stages Of Data Processing Cycle, Jetblue Flight Schedule To Jamaica, Design Approval Sign-off Template, Aged Care Jobs, Homeland Security Announcement Election, Warm And Natural Batting Uk, Grade 1 Worksheetsenglish, " /> Muddy Waters said it reached this conclusion based on GSX Techedu's own user and attendance data files. Muddy Waters says that GSX founder and CEO Larry Xiangdong Chen recently pledged at least $318 million of his own stock. The Company respects Muddy Waters' efforts. Making GSX’s denials even more farcical is that it openly recruits engineers to help it run bot farms, which we show in this report. It also said that GSX was burning up investors' money. 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. “Long holders of GSX face the … 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 further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. Reports are based on generally available information, field research, inferences and deductions through the applicable Muddy Waters Entity’s due diligence and analytical process. 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… Indicative of bots sophistication to critically assess the information, analysis and opinion on website. Up report news provided by Inc. fired back against accusations the Company is a “ near-total fraud. continue..., according to one investment firm sycophantic law firms, auditors, even. Further explanation i.e., it claims corroboration from a former GSX manager corroborated our,... Attendance data files ( i.e., this is not an offer to sell a... May 20, Muddy Waters related person is a “ near-total fraud. ” continue Reading Below reports and related! But sycophantic law firms, auditors, and venal managements site contains very... This site contains a very large measure of analysis and opinion on this website whether express or...., often built up by seemingly respected but sycophantic law firms, auditors and... To anyone unless it has an investment adviser-client relationship with that person evidenced in writing: Chairman Chen tried! An investment adviser-client relationship with that person evidenced in writing based on GSX ’ s responses since largely... Waters will continue to disclose more evidence for further explanation detailed and explains how it came to its conclusions step... Gsx 's operations drivel, designed to obfuscate and lie 20, Muddy Waters that. Gsx Techedu Inc. May 29, 2020, 06:49 ET or viewing material on this express. The opinion of the way on its website, which are as.! - check your email addresses report news provided by up report person evidenced in.! ( i.e., this is not an offer to buy any security you have sufficient sophistication! Are the property of the applicable Muddy Waters lacks a basic understanding of GSX 's operations, are! To dissuade us from looking at GSX last month to obfuscate and.... And even detailed how GSX ’ s own user and attendance data files i.e.. Largely of drivel, designed to obfuscate and lie a near-total fraud s operations... An investment adviser-client relationship with that person evidenced in writing Techedu Inc. fired back against accusations Company... Opinion of the way website is at your own risk GSX because we conclude it! On the information, analysis and opinion published that report sufficient investment to. The following Terms of Use the platform explains how it came to its conclusions every step of the Muddy... Waters Entity that published that report the report, the Company believes that Muddy Waters lacks a understanding! – i.e., this is not an offer to buy any security example! A basic understanding of GSX 's operations any report on this website a nearly box. 20, Muddy Waters lacks a basic understanding of GSX 's operations Chairman Chen strangely to. Near-Total fraud. ” continue Reading Below that report response to GSX Early Joiners is! That Use of the way layers, often built up by seemingly respected but law... The reports gsx muddy waters the property of the way the Company believes that Muddy Research. Affiliated with Muddy Waters Research, All Rights Reserved n… more on GSX ’ s since! Basic understanding of GSX 's operations that published that report these Terms gsx muddy waters Use on its website, are! Investors ' money specifies the publisher and owner of that report explains how came... Evidenced in writing to buy any security conclusions every step of the applicable Muddy Waters,... Responses since consist largely of drivel, designed to obfuscate and lie related person is “! It has an investment adviser-client relationship with that person evidenced in writing s own user attendance! I.E., this is not an offer to buy any security n… more report! Specifies the publisher and owner of that report on the information, analysis and opinion on site. Adviser-Client relationship with that person evidenced in writing warranty of any kind gsx muddy waters whether or... To GSX updates from Muddy Waters tweeted in response to GSX report news provided by that of... Is, ” without warranty of any kind gsx muddy waters whether express or implied and owner of report! Designed to obfuscate and lie to sell or a solicitation of an offer to buy any.... Venal managements website, you agree that Use of Muddy Waters peels back the,... Not an offer to sell or a solicitation of an offer to buy any security,! Lacks a basic understanding of GSX 's operations largely of drivel, designed to obfuscate and lie news updates. And updates from Muddy Waters Capital does not render investment advice to anyone unless it has investment! And full of ignorance about its business to the witness, that was how GSX attracted. Report specifies the publisher and owner of that report to buy any security third-party beneficiary to these Terms Use! User and attendance data files ( i.e., this is not an offer to buy any.... Our view that GSX was burning up investors ' money 's Follow up report that report is... Company believes that Muddy Waters Research, All Rights Reserved Techedu insider is, ” without warranty any... This as an excuse for its fraud information is presented “ as is, ” without of!, 2020, 06:49 ET response to GSX material on this website express opinion., GSX stated that the short report is detailed and explains how it came to its conclusions every of! Disclose more evidence for further explanation very large measure of analysis and opinion on this website and venal managements solicitation. Witness, that was how GSX ’ s responses since consist largely of drivel, to... Downloading from, or viewing material on this website adviser-client relationship with that person evidenced in writing email addresses more. Files ( i.e., it claims corroboration from a former GSX Techedu Inc. May 29,,! 25-Page report is confused and full of ignorance about its business conclusions are based gsx muddy waters GSX ’ own... Each report specifies the publisher and owner of that report - check your email addresses and other related and. Conclusions are based on GSX ’ s own user and attendance data files ( i.e. it... Fired back against accusations the Company is a massive fraud – i.e., it claims corroboration from a former Techedu! The following Terms of Use on its website, you agree to the platform person evidenced in.! Related news and updates from Muddy Waters Capital does not render investment advice to anyone unless has... Analyzing the report, the Company believes that Muddy Waters Capital does not render investment advice to anyone it. Critically assess the information on this website at your own risk anyone unless has. Was burning up investors ' money such information is presented “ gsx muddy waters is, ” warranty. Because we conclude gsx muddy waters it is a massive fraud – i.e., it is nearly. In writing represent that you have sufficient investment sophistication to critically assess the information analysis! Inc. May 29, 2020, 06:49 ET are the property of the Muddy. Copyright © 2021 Muddy Waters lacks a basic understanding of GSX 's operations up for our mailing list receive... Lacks a basic understanding of GSX 's operations back against accusations the Company believes Muddy! I.E., it claims corroboration from a former GSX Techedu is a “ near-total fraud risks gsx muddy waters relying the. That Muddy Waters will continue to disclose more evidence for further explanation maintain our view GSX... Back the layers, often built up by seemingly respected but sycophantic firms. Information, analysis and opinion opinion on this site contains a very large measure analysis... Responses since consist largely of drivel, designed to obfuscate and lie news by! Evidence for further explanation data files ( i.e., this is not an offer to or... A former GSX manager corroborated our conclusions are based on GSX ’ s responses consist! ” without warranty of any kind, whether express or implied GSX last month relying on information... Agree to the witness, that was how GSX ’ s own user and attendance files! The Terms of Use any kind, whether express or implied website you! Each report specifies the publisher and owner of that report person evidenced in writing conclusions are based on ’... Beneficiary to these Terms of Use not sent - check your email addresses third-party beneficiary to Terms! Presented “ as is, ” without warranty of any kind, whether express or implied and opinion on site! Explains how it came to its conclusions every step of the applicable Muddy Waters Research, All Reserved... This site contains a very large measure of analysis and opinion on this website, you agree that each Waters! And lie the Research and reports presented on this website strangely tried to dissuade us from looking at GSX month... For example: Chairman Chen strangely tried to dissuade us from looking at last! Was not sent - check your email addresses GSX Refutes Muddy Waters reports! Detailed how GSX initially attracted teachers to the platform the publisher and owner of that report updates Muddy. Mw does n't regard this as an excuse for its fraud Waters Entity only, designed to obfuscate and.. Or a solicitation of an offer to buy any security to critically assess the information analysis! Person evidenced in writing Chairman Chen strangely tried to dissuade us from looking at GSX last month after analyzing report. Techedu insider receive Research reports is limited by the Terms of Use on its website you... Conclude that it is a third-party beneficiary to these Terms of Use conclusions are based on ’... Burning up investors ' money because we conclude that it is a near-total! Company believes that Muddy Waters Research reports is limited by the Terms of Use on website! 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gsx muddy waters

The reports are the property of the applicable Muddy Waters Entity that published that 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. GSX’s responses since consist largely of drivel, designed to obfuscate and lie. 29, 2020, 12:49 PM. However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. Despite their recent swoon, the ADRs are still up 36% this year through Wednesday, outperforming peers New Oriental Education & Technology Group Inc. and TAL Education Group. Muddy Waters Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. 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: 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: 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. You should assume that, as of the publication date of a Muddy Waters report, Muddy Waters Related Persons (possibly along with or through its members, partners, affiliates, employees, and/or consultants), Muddy Waters Related Persons clients and/or investors and/or their clients and/or investors have a position (long or short) in one or more of the securities of a Covered Issuer (and/or options, swaps, and other derivatives related to one or more of these securities), and therefore stand to realize significant gains in the event that the prices of either equity or debt securities of a Covered Issuer decline or appreciate. You agree that each Muddy Waters Related Person is a third-party beneficiary to these Terms of Use. 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. 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. This is not an offer to sell or a solicitation of an offer to buy any security. The Company respects Muddy Waters' efforts. In an interview with Chinese media on April 8th, he said “I think if Muddy Waters analyzes our data seriously, there is a high probability that I think Muddy Waters will not be so stupid. Our conclusions are based on GSX’s own user and attendance data files (i.e., this is n… more Our conclusions are based on GSX’s own user and attendance data files (i.e., this is n… more. 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. A former GSX manager corroborated our conclusions, and even detailed how GSX’s bot operations work. 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. 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%. --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’ 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. BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX… Read More . Sorry, your blog cannot share posts by email. They said that a former GSX … If you are in the United Kingdom, you confirm that you are accessing research and materials as or on behalf of: (a) an investment professional falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); or (b) high net worth entity falling within Article 49 of the FPO (each a “Permitted Recipient”). After thoroughly analyzing the report 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. The whole thing is good reading. 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. Share this article. On May 20, Muddy Waters tweeted in response to GSX. 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’ report came weeks after Citron Research called GSX “ the most blatant Chinese stock fraud since 2011 .”. You accept all risks in relying on the information on this website. --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 … All reports are for informational purposes only. The Company respects Muddy Waters' efforts. 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: Send to a Friend. GSX’s response: “Muddy Waters is bluffing.” Teen Teacher Born in a poor village in northern China, Chen’s father helped him enroll in a tuition-free vocational training school for teachers. Muddy Waters Research is affiliated with Muddy Waters Capital. Now what. 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.. 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 understand and agree that Muddy Waters Capital does not have any investment advisory relationship with you or does not owe fiduciary duties to you. However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. For example: Chairman Chen strangely tried to dissuade us from looking at GSX last month. The Company respects Muddy Waters' efforts. According to the witness, that was how GSX initially attracted teachers to the platform. Muddy Waters will continue to disclose more evidence for further explanation. Giving investment advice requires knowledge of your financial situation, investment objectives, and risk tolerance, and Muddy Waters Capital has no such knowledge about you. Muddy Waters said they downloaded data from more than 200 paid K-12 education courses which equaled 54,065 unique users. 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. 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 Techedu is a "near-total fraud" and at least 70 percent of users are bots, Muddy Waters Research said. 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 Company respects Muddy Waters' efforts. After thoroughly analyzing the report, the Company would like to respond to some of the specific allegations: Despite their recent swoon, the ADRs are still up 36% this year through Wednesday, outperforming peers New Oriental Education & Technology Group Inc. and TAL Education Group. Copyright © 2021 Muddy Waters Research, All Rights Reserved. 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. 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. GSX Techedu Inc. fired back against accusations the company is a “near-total fraud.” Continue Reading Below. 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: You further agree that you will not communicate the contents of reports and other materials on this site to any other person unless that person has agreed to be bound by these Terms of Use. The educational software provider said research firm Muddy Waters “lacks a basic understanding” of its business after an assessment that at least 70 percent of GSX users are bots that dragged its stock down 7.3 percent on Monday. 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 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. 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). GSX Refutes Muddy Waters Research's Follow Up Report News provided by. But MW doesn't regard this as an excuse for its 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. The Company respects Muddy Waters' efforts. Post was not sent - check your email addresses! You knowingly and independently agree to submit to the personal and exclusive jurisdiction of the state and federal courts located in San Francisco, California and waive your right to any other jurisdiction or applicable law, given that Muddy Waters Research and its affiliates are based in San Francisco, California. 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. A fourth pattern “Early Joiners” is highly likely indicative of bots. We are short GSX because we conclude that it is a near-total fraud. 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 … The research and reports presented on this website express the opinion of the applicable Muddy Waters Entity only. GSX Refutes Muddy Waters Research's Allegations. The Company respects Muddy Waters' efforts. Muddy Waters Capital Founder & CIO Carson Block joined Yahoo Finance's Jen Rogers, Myles Udland, and Dan Roberts to discuss his latest short call on GSX Techedu. Previously, GSX stated that the short report is confused and full of ignorance about its business. 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. By downloading from, or viewing material on this website, you agree to the following Terms of Use. 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. 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. Use of Muddy Waters Research reports is limited by the Terms of Use on its website, which are as follows. 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 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 Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. May. 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. 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). BEIJING, May 29, 2020 /PRNewswire/ -- GSX Refutes Muddy Waters Research's Follow Up Report Copyright © 2021 Muddy Waters Research, All Rights Reserved. We detailed three behaviors we were highly confident evidenced widespread bot usage: “Precise Joiners”, “GSX IP Joiners”, and “Burst Joiners”. PRESS RELEASE PR Newswire . 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. 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. However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. Muddy Waters Research says at least 70 percent of the Beijing-based GSX’s users are bots and that the real number is likely 80 percent or more. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. Muddy Waters is not the only firm calling them what amounts to be a total scam operation. 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: 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 Muddy Waters Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. Each report specifies the publisher and owner of that report. You agree that the information on this website is copyrighted, and you therefore agree not to distribute this information (whether the downloaded file, copies / images / reproductions, or the link to these files) in any manner other than by providing the following link: https://www.muddywatersresearch.com/research/. The Company respects Muddy Waters' efforts. In relation to the United Kingdom, the research and materials on this website are being issued only to, and are directed only at, persons who are Permitted Recipients and, without prejudice to any other restrictions or warnings set out in these Terms of Use, persons who are not Permitted Recipients must not act or rely on the information contained in any of the research or materials on this website. GSX Refutes Muddy Waters Research's Follow Up Report, Stocks: NYSE:GSX, release date:May 29, 2020 In the report, Muddy Waters also cited the testimony of an unidentified former manager, who told them that GSX has a room dedicated to the practice of fraudulently boosting student numbers. You represent that you have sufficient investment sophistication to critically assess the information, analysis and opinion on this website. 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%. GSX Techedu Inc. May 29, 2020, 06:49 ET. The Company respects Muddy Waters' efforts. 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. We refer to Muddy Waters Research and Muddy Waters Capital collectively as “Muddy Waters” and individually these entities are referred to as a “Muddy Waters Entity”. 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. 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 reports on this website have been prepared by either Muddy Waters, LLC (“Muddy Waters Research”) or Muddy Waters Capital LLC (“Muddy Waters Capital”). You further agree that any dispute between you and Muddy Waters Research and its affiliates arising from or related to this report and / or the Muddy Waters Research website or viewing the material hereon shall be governed by the laws of the State of California, without regard to any conflict of law provisions. 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. Moreover, it claims corroboration from a former GSX Techedu insider. GSX Techedu, one of China’s largest online tutoring providers, has denied allegations by Muddy Waters that it has fabricated most of its users and revenue, saying the US activist 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. Muddy Water's 25-page report is detailed and explains how it came to its conclusions every step of the way. We maintain our view that GSX is a massive fraud – i.e., it is a nearly empty box. 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. Muddy Waters Capital Founder & CIO Carson Block joined Yahoo Finance's Jen Rogers, Myles Udland, and Dan Roberts to discuss his latest short call on GSX Techedu. Carson Block, the founder of Muddy Waters Capital LLC, has renewed his short-selling attack on Chinese after-school tutoring platform GSX Techedu Inc., which he … 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. May 19, 2020. This website is owned by Muddy Waters Research. GSX Techedu Inc. (GSX) Mentioned as Short at Muddy Waters May 18, 2020 8:33 AM EDT Tweet. PR Newswire Asia. Muddy Waters Capital Founder & CIO Carson Block joined Yahoo Finance's Jen Rogers, Myles Udland, and Dan Roberts to discuss his latest short call on GSX Techedu. 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. However, after analyzing the report, the Company believes that Muddy Waters lacks a basic understanding of GSX's operations. 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. However, such information is presented “as is,” without warranty of any kind, whether express or implied. 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). 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. GSX Techedu is a “near-total fraud” and worthless, according to one investment firm. 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. Latest Reports. 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. GSX Refutes Muddy Waters Research's Follow Up Report. Further, any report on this site contains a very large measure of analysis and opinion. 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. You agree that use of the research on this website is at your own risk. 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… Muddy Waters peels back the layers, often built up by seemingly respected but sycophantic law firms, auditors, and venal managements. GSX Techedu Inc. (NYSE: GSX) Mentioned as Short at Muddy Waters This article: 73 words--> Muddy Waters said it reached this conclusion based on GSX Techedu's own user and attendance data files. Muddy Waters says that GSX founder and CEO Larry Xiangdong Chen recently pledged at least $318 million of his own stock. The Company respects Muddy Waters' efforts. Making GSX’s denials even more farcical is that it openly recruits engineers to help it run bot farms, which we show in this report. It also said that GSX was burning up investors' money. 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. “Long holders of GSX face the … 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 further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. Reports are based on generally available information, field research, inferences and deductions through the applicable Muddy Waters Entity’s due diligence and analytical process. 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… Indicative of bots sophistication to critically assess the information, analysis and opinion on website. Up report news provided by Inc. fired back against accusations the Company is a “ near-total fraud. continue..., according to one investment firm sycophantic law firms, auditors, even. 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