To be clear, these were unaudited results, and that's why investors are jumpy. 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. Therefore, I would refrain from choosing a side and just take the numbers at face value. Appreciate my writing, have an idea for me, or is there an issue with something I wrote? Stating the obvious, when research firms accuse the company of fraud, it's material to GSX Techedu shareholders. As of 12:00 p.m. EDT, the stock was trading 9% higher. On May 18, Muddy Waters said it was short GSX Techedu stock because the company was "a near-total fraud." If true, that would be devastating for GSX Techedu shareholders. As reported, is this a stock I'd be interested in buying and holding for the long term? The company's management has released two statements now in response to Muddy Waters that appear to have satisfied Wall Street. Feel free to reach out to me at email@example.com. But the stock is down because of the bottom-line results. Shares of Chinese distance-education company GSX Techedu (NYSE:GSX) were hammered on Friday after it reported earnings for the third quarter of 2020. Let's conquer your financial goals together...faster. Get the hottest stocks to trade every day before the market opens … For me, the answer's "no." However, today Grizzly Research's sleuthing echoed Muddy Waters' investigation. And including today's drop, it's down nearly 60% from its highs. So it's the word of one against the other. Feel free to reach out to me at firstname.lastname@example.org. For example, Muddy Waters saw multiple users joining a classroom at the exact same time -- statistically impossible for students joining from diverse locations. Appreciate my writing, have an idea for me, or is there an issue with something I wrote? Both Muddy Waters and Grizzly Research provided instructions for investors wanting to replicate their findings. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Investigation aside, the soaring expenses don't give me enough confidence on the potential future return. 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. 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. First, the stock was downgraded by an analyst at Credit Suisse. Shares of GSX Techedu (NYSE:GSX) are rising today. Perhaps investors expect a similar forthcoming response to Grizzly Research. Let's conquer your financial goals together...faster. Those top-line numbers look great. See you at the top! Given Muddy Waters' reputation of uncovering fraudulent Chinese companies, GSX Techedu stock dropped on the report. GSX Techedu offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. I don't have a vested interest or an insider perspective either way with this international stock. Returns as of 11/30/2020. Stock Advisor launched in February of 2002. However, management said students participate in warm-up exercises and are then transferred to the classroom at the same time when the class starts.
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