All you need to do is google "GSX Fraud" and there are tons of articles that have been published since February. A few research companies (Citron Research and Grizzly Research to name some) are coming out and claiming that GSX Techedu has been drastically overstating its profitability in its US public filings, especially for 2018. They have also been "brushing" student enrollments by creating fake students to boost student body numbers as well as stating that their "filings are riddled with suspicious transactions.". To make this story even sweeter; $GSX is currently trading near all-time highs. With all of this news coming in the recent months and a stock trading higher than it ever has, I can't help but see an opportunity to try and get in before this fraud bubble bursts. The only questions are: Will the SEC get word of this in their July 9th roundtable meeting? When will we see an official investigation and/or a reaction in the market? How do investors profit from these allegations (Options/Short Selling/or leave it alone)? I'd like to hear what others think of this.
You really need to be selling your Hit Piece on StockTwits, nobody on Elite Trader has enough shares to help you get back to square. If it helps, I sold all my Calls but the stock refuses to tank. Looks like no "Pinning" will happen on Friday. Back to trading UONE, good luck with GSX!
With all the news on the GS X Fraud, there has been a risk considered by the traders in Forex trading. It seems that you will never know which broker or approach is suitable for you. The trading world is full of scams and frauds which make it important to take every step carefully in order to save you from such scams.
You have to be careful with companies like Citron Research, they are no knights in shining armor. Quite a few companies they called out turned out to be legit businesses.
Stock keeps going up, I wonder what make's someone recommend a stock like this at $57 to short? Its $77 now. Edited: It blew through $79.00.