Gaotu Techedu
| Company type | Public |
|---|---|
| NYSE: GOTU | |
| Founded | 2014 in Beijing, China |
Key people | Xiang Dong Chen (Chairman and CEO) |
| Revenue |  CN¥7.125 billion[1] (2020) |
 CN¥−1.755 billion[1] (2020) | |
| CN¥−1.393 billion[1] (2020) | |
Number of employees | 6435 |
| Gaotu Techedu | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 高途在线有限公司 | ||||||
| Traditional Chinese | 高途在線有限公司 | ||||||
| |||||||
Gaotu Techedu Inc. (Chinese: 高途在线有限公司; pinyin: Gāotú Zàixiàn Yǒuxiàn Gōngsī, formerly GSX Techedu Inc., from 跟谁学, Genshuixue) is a Chinese education technology company offering online tutoring services for K-12 students, along with foreign language and professional training courses for adults. The company was founded in 2014 by Xiang Dong Chen.[2] Its primary product is the online education platform Genshuixue.[3]
GSX is currently under investigation by the U.S. Securities and Exchange Commission after more than a dozen research reports came out in 2020 accusing GSX of inflating its revenue numbers.[4] These critical reports included ones from short-selling firms such as Muddy Waters Research.[5][6] The stock price went from a high of $149.05 on January 27, 2021, to a low of $2.40 as of July 26, 2021[update].
References[edit]
- ^ a b c "Form 20-F". www.sec.gov. Retrieved 2021-07-23.
- ^ "GSX | GSX Techedu Inc. ADR Profile". MarketWatch. Retrieved 2021-01-20.
- ^ "Chen Xiangdong Admits to Losing Sleep Over Unprofitable Online School". www.yicaiglobal.com. Retrieved 2021-01-29.
- ^ Yu, Jing Yang and Xie (2020-10-12). "One of the Year's Worst Short Bets Defies Scathing Reports and an SEC Investigation". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-01-20.
- ^ "GSX Shares Tank 15% After Muddy Waters Claims 80% of Students Are Bots-capitalwatch.com". www.capitalwatch.com. Retrieved 2021-01-29.
- ^ "Short Sellers Still Love to Hate GameStop". Institutional Investor. 12 February 2021. Archived from the original on 17 February 2021.
The short interest in GSX is much larger than that of GameStop, at $4.36 billion. GSX shares peaked on Jan. 27, closing at $142.70 per share that day. They were trading Friday around $103, about double their price at the start of the year.
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