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. 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. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. A business model that incentivizes promoters to do something – anything – with other people’s money is boun… more, We are short NNOX because we think it is a much bigger piece of garbage than Nikola will ever be. NNOX almost certainly used somebody else’s chest images to try to make its ARC machine look re… more, We estimate that – prior to any tail revenue adjustment – it takes EHTH nine years to fully collect each dollar of Medicare Advantage revenue it books. We are short GSX because we conclude that it is a near-total fraud. 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. 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 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/. “There is clearly something wrong.” Block, founder of Muddy Waters Research, isn’t questioning his methods. There are important similarities, though. On May 18, research firm Muddy Waters told the world it was short GSX Techedu stock. 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. 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. GSX Techedu Inc. May 29, 2020, 06:49 ET . It went through the company's … 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. 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. Use of Muddy Waters Research reports is limited by the Terms of Use on its website, which are as follows. So what. 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). Watch the full interview here… more, Block on CNBC Squawk Box discussing a new kind of activism - morality shorts. Nikola rolled a truck down the hill to try to prove it’s real. “GSX, after we reported it, tripled,” Block said in an interview with Bloomberg Television. GSX Techedu Inc. May 19, 2020, 07:18 ET. He blames options traders, small floats and investors taking advantage of low volumes to push the Chinese stocks back up after his calls. Giving investment advice requires knowledge of your financial situation, investment objectives, and risk tolerance, and Muddy Waters Capital has no such knowledge about you. The reports are the property of the applicable Muddy Waters Entity that published that report. The research and reports presented on this website express the opinion of the applicable Muddy Waters Entity only. 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”. We maintain our view that GSX is a massive fraud – i.e., it is a nearly empty box. Sign up for our mailing list and receive research reports and other related news and updates from Muddy Waters Research. The Company respects Muddy Waters' efforts. GSX’s responses since consist largely of drivel, designed to obfuscate and lie. GSX data by YCharts. Further, any report on this site contains a very large measure of analysis and opinion. 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). A fourth pattern “Early Joiners” is highly likely indicative of bots. 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. The Company respects Muddy Waters' efforts. By downloading from, or viewing material on this website, you agree to the following 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. And yet, nothing could prepare us for the surreality of Baidu announcing its intention to buy YY Live from JOYY, which happened just as we were preparing to reveal that our year-lon… more, In the great present-day money grab known as SPAC promotion, egregious mistakes will be made – such as missing an impending customer defection that could cost ~35% of revenue within two years. 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.

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