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On May 18, Muddy Waters said it was short GSX Techedu stock because the company was "a near-total fraud." Stating the obvious, when research firms accuse the company of fraud, it's material to GSX Techedu shareholders. Earnings per share decreased 5800.00% year … It believes both student enrollment and revenue are overstated by 900%. As reported, is this a stock I'd be interested in buying and holding for the long term? First, the stock was downgraded by an analyst at Credit Suisse. Let's conquer your financial goals together...faster. Stock Advisor launched in February of 2002. This represents phenomenal 253% year-over-year growth. Perhaps that explanation satisfied Wall Street, as the stock rose in recent days. Market data powered by FactSet and Web Financial Group. Press Release reported on 11/20/20 that GSX Announces Third Quarter 2020 Unaudited Financial Results. Given the seriousness of the accusation, it's in investors' best interest to do extra due diligence with GSX Techedu stock -- verify the researched findings and compare to GSX Techedu management's explanations. In GSX Techedu's press release, it highlighted net revenue of 1.966 billion yuan (about $300 million). Those top-line numbers look great. See you at the top! By analyzing the available data, Muddy Waters found suspicious classroom participation patterns, from which it concluded that at least 73% of users were fake. In today's press release, management said it's cooperating and doesn't believe an ongoing third-party review will find anything substantial. In a worst-case scenario, the accusations would be substantiated and make the stock a candidate for delisting. I don't have a vested interest or an insider perspective either way with this international stock. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Given Muddy Waters' reputation of uncovering fraudulent Chinese companies, GSX Techedu stock dropped on the report. But investors find it fishy that the company's expenses happen to be soaring right as it's starting to get scrutinized. Shares of Chinese distance-education company GSX Techedu (NYSE:GSX) were hammered on Friday after it reported earnings for the third quarter of 2020. While I no longer get to exercise my analytical muscles with linguistics, it's rewarding to analyze business and share my opinions through this platform. Shares of GSX Techedu (NYSE:GSX) are rising today. GSX Techedu offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. Paid course enrollments were up 134% from last year. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Notwithstanding this news, GSX Techedu stock is rising today. Those not willing to put forth this extra effort shouldn't consider buying shares, at least until this issue is fully resolved. However, management said students participate in warm-up exercises and are then transferred to the classroom at the same time when the class starts. While that could be enough to explain why the stock isn't going down today, there's no positive news or update that explains what is moving shares higher. GSX Techedu reported a net loss of 933 million yuan (about $142 million). See you at the top! Returns as of 11/30/2020. A high-level overview of GSX Techedu Inc. (GSX) stock. If true, that would be devastating for GSX Techedu shareholders. As of 12:00 p.m. EDT, the stock was trading 9% higher. It's fair to note GSX Techedu management hasn't been silent, providing investors with explanations for these findings of fraud. For example, Muddy Waters saw multiple users joining a classroom at the exact same time -- statistically impossible for students joining from diverse locations. It provided explanations for the suspicious patterns the research firm had noticed. Today, another research firm called Grizzly Research announced that it believes most of GSX Techedu's students are fake, consistent with Muddy Waters' report. However, today Grizzly Research's sleuthing echoed Muddy Waters' investigation. While I no longer get to exercise my analytical muscles with linguistics, it's rewarding to analyze business and share my opinions through this platform. Cumulative Growth of a $10,000 Investment in Stock Advisor, GSX Techedu Stock Is Unexpectedly Rising Today @themotleyfool #stocks $GSX, Why GSX Techedu Stock Was Hammered Again on Friday, Why GSX Techedu Stock Was Crushed on Wednesday, Shades of Luckin Coffee: GSX Techedu Probed for Allegedly Inflating Sales, Here's Why GSX Techedu Stock Is Trading Higher Before Earnings, Copyright, Trademark and Patent Information. Therefore, I would refrain from choosing a side and just take the numbers at face value. Perhaps investors expect a similar forthcoming response to Grizzly Research. So it's the word of one against the other. Shares of GSX Techedu (NYSE:GSX) decreased 13.7% in pre-market trading after the company reported Q3 results. For me, the answer's "no." Cumulative Growth of a $10,000 Investment in Stock Advisor, Why GSX Techedu Stock Was Hammered Again on Friday @themotleyfool #stocks $GSX, Why GSX Techedu Stock Was Crushed on Wednesday, Shades of Luckin Coffee: GSX Techedu Probed for Allegedly Inflating Sales, Here's Why GSX Techedu Stock Is Trading Higher Before Earnings, Downward Pressure on GSX Techedu Stock Picked Up Steam on Friday, Copyright, Trademark and Patent Information. Investigation aside, the soaring expenses don't give me enough confidence on the potential future return. Appreciate my writing, have an idea for me, or is there an issue with something I wrote? The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. There are two things happening with Chinese education platform GSX Techedu (NYSE: GSX) today. After spending more than a decade travelling the world exploring different cultures and languages, I'm happy to now be contributing to the Motley Fool's mission to make the world smarter, happier, and richer. Notwithstanding this news, GSX Techedu stock is rising today. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Get the hottest stocks to trade every day before the market opens … GSX Techedu Inc. (NYSE:GSX) went down by -4.27% from its latest closing price compared to the recent 1-year high of $141.78. The company's gross profit margin fell from around 28% to around 26%, but more troubling, selling expenses sextupled from the prior-year period. Let's conquer your financial goals together...faster. In recent weeks, the stock has been in free fall. Today, it was down 20% as of 11:15 a.m. EST. And including today's drop, it's down nearly 60% from its highs. GSX Techedu management soon responded to Muddy Waters' claims. The company's management has released two statements now in response to Muddy Waters that appear to have satisfied Wall Street. GSX Techedu (GSX-23.3%) reports Q3 results:Net revenues of RMB1,965.8M (+252.9% Y/Y) was mainly driven by the growth in paid course enrollments for K … The company has been accused of fraud and is under investigation by the Securities and Exchange Commission. Feel free to reach out to me at jon.quast@foolcontractors.com. What's great about exploring business and the economy is the insight it gives you into how things are in the world. Feel free to reach out to me at jon.quast@foolcontractors.com. What's great about exploring business and the economy is the insight it gives you into how things are in the world. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Stock Advisor launched in February of 2002. To be clear, these were unaudited results, and that's why investors are jumpy. Both Muddy Waters and Grizzly Research provided instructions for investors wanting to replicate their findings. Appreciate my writing, have an idea for me, or is there an issue with something I wrote? However, Wall Street is inexplicably shrugging off this news, with shares rising for the session. This enormous loss is stunning compared to its modest profit last year.

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