June 19, 2020
Recently Chinese listed fraudulent companies are raising awareness in the market by it's action of severe manipulation of stock price. GSX, a Chinese online education receiving 10 short selling reports from different short selling institutions claiming 90% of its revenue were fake and the students were just bots. Strong evidence including recordings provided by previous employees, on-site researches, technical findings based on logs checking on its servers have been reviewed. However, despite the evidence on the table is just so obvious this company is having trust issue, the stock price still pump to a double within 2 weeks in early June, 2020.
If the Sec allow these companies to stay in the market and stealing US investors money by manipulation of stock price, there will be more cases like LK to ruin the market in the future. Please help to stand for investors and strongly accuse those fraudulent companies, GSX would be a great target for the first step.