GSX - GSX Techedu short sellers seeing vindication in stock plunge

March, 28 2021 09:00 AM GSX Techedu Inc. American Depositary Shares three of which representing two Class A

Heavily shorted GSX Techedu Inc. (GSX), which sunk 42% on Friday, may be seen as a victory for shorts who have been critical of the Chinese online tutoring company over the past year.GSX plunged Friday after a block of 12.8 million shares was offered by Morgan Stanley, according to a Bloomberg report. Potentially new more stringent online tutoring rules in China may have also helped contribute to the decline. GSX short interest is 34% of the float.Social media is speculating that the share block was likely sold for Archegos Capital Management, the fund run by Tiger cub Bill Hwang, that was reportedly liquidating its positions on Friday after receiving margin calls. The family office is reported to have focused on telecom, media and tech.GSX shares have had a strange trip over the past year with more than a half dozen short reports released on the company, mainly alleging that the company was fabricating its user base

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GSX Techedu short sellers seeing vindication in stock plunge

Company Name:	GSX Techedu Inc. American Depositary Shares three of which representing two Class A
Stock Symbol:	GSX
Market:	NYSE

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