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GOTU.US
id: 640

Gaotu Techedu Inc (GSX) Manipulation Case

On May 18, 2020, GSX Techedu was accused by independent short-seller Muddy Waters of manipulating its financial accounts. The MW report stated that at least ~70% of GSX's users were fake.

On this news, the $GSX price dropped, and many market participants reasonably made the decision to open short positions at fundamentally inflated price levels.

Market participants suspect that following the dramatic increase in short interest GSX Techedu allegedly conspired with some big market players, including the notorious Archegos, to manipulate prices causing a short squeeze.

The short squeeze caused $GSX share price to jump 200% by Autumn 2020, despite continued accusations of accounting shenanigans and related lawsuits against the Company.

Taking all facts into account, Short Seller Market Participants have reasons to suspect $GSX, its officers, and certain hedge funds of conspiracy for market manipulation.
Case Status
Attorney Investigation
Alleged Offence
Price manipulation
Insider Trading
Suspected Party
Directors
Management
Shareholder
Influencer
Investment Bank
Service Provider
Research Entity
Hedge Fund
Security Type
Stocks
Trade Direction
Short
Shock Event Date
18 May 2020
Collecting participants…

Gaotu Techedu Inc DRC

Gaotu Techedu Inc., a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses compr...

    Ticker
    GOTU.US
    ISIN
    US36257Y1091
    CIK
    1768259
    Sector
    Consumer Defensive
    Industry
    Education & Training Services
    Country
    USA
    Address
    Gientech Building, Beijing, China, 100193