The US stock market closed on May 14, and the three major U.S. stock indexes all rose. GSX.US fell 8.85% to US$34.93, with a total market value of US$8.339 billion.
follows the market trend, and popular Chinese stocks listed in the US generally rise. Among them, Alibaba (BABA.US) rose 0.92%, Pinduoduo (PDD.US) rose 1.69%, JD.com (JD.US) rose 2.41%, Baidu (BIDU.US) rose 0.56%, and Bilibili (BILI.US) rose 1.14%.
From the news perspective, the sharp drop in , GSX 's stock price seems to be not caused by major unfavorable news. On the contrary, , and have also received certain good news recently. On May 13, MSCI released the results of the semi-annual index review for May 2020. Among them, among the 56 new components added to the MSCI Global Standard China Index, including , GSX and , Bilibili .
Nanhua Futures commented on this. The results of this review were only adjustments, and there were no major changes or expansions. It had little impact on the overall level of funds, but had a great impact on stock , which was bad for the stocks produced by the air conditioner and boosted the stocks transferred in.
Boosted by this news, US stocks closed on May 13, and Bilibili rose 4.92% against the market, reaching a high of US$31.17 on the day, setting a record high of the stock price. In contrast, the stock price of , GSX, , was slightly inferior. Although it also outperformed the market, it only closed slightly higher by 0.24%.
From this point of view, the negative impact of being shorted multiple times on , who will learn seems to have not yet dissipated. On February 25 this year, short selling agency Grizzly Research released a short selling report on , Grizzly Research, . In less than three months since then, , GSX has been shorted by Citron, Scorpio Venture Capital and other institutions. Perhaps affected by this, the stock price of , GSX , which had a better rise since the beginning of the year, once performed poorly.
Source: Snowball
On May 6, , GSX released its first quarter financial report for the 2020 fiscal year, with revenue of 1.298 billion yuan (RMB, the same below), a year-on-year increase of 382%, higher than Bloomberg's consensus expectations; net profit was 148 million yuan, a year-on-year increase of 336.6%; the number of paid students for regular courses was 774,000, a year-on-year increase of 307.4%.
However, the sharply growing core performance indicators do not seem to be able to "save" the stock price of , GSX . On May 6, the three major U.S. stock indexes rose and fell mixed, the Dow Jones Industrial Average fell 0.91%, the S&P 500 fell 0.7%, the Nasdaq rose 0.51%, and , GSX fell 1.74%.
(the title picture comes from the company's official website)
