July 8, 2020
How are we allowing GSX and others to steal from US investors? I am a former Merrill banker and three-time tech Founder/Y Combinator Alum. Ive been working in software for almost 20 years. It takes 30 mins of non-expert time to verify GSX is a pump and dump Chinese shell scheme. And as a tech mind, I can tell you that the due diligence on the fraud claims checks out. Its laughable how amateurish GSX is with their fraud and if you bring in any computer engineers of your own, they could tell you in no time that GSX is a near-total fraud. And they now have a $19.1B market cap? This is patently absurd. The stock went up 18% right before this round table and has a $432 PE ratio. I mean, is the exchange asleep at the wheel or complicit there is never a third.
Im well aware that we expect or even allow a certain level of fraud with Chinese listed companies from my trading days, but this is beyond even Lukin Coffee level fraud. This isnt a little exaggeration. Its totally and completely smoke and mirrors. GSX needed to be investigated months ago and delisted before they started pumping.
The media is already covering GSX. So what are we doing about it? And when are we doing it?