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GSX Techedu Stock Hits All-Time Highs Despite Ongoing Fraud Allegations

TheMotleyFool

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GSX Techedu Stock Hits All-Time Highs Despite Ongoing Fraud Allegations

Shares of GSX Techedu (NYSE: GSX) reached all-time highs on Monday, surpassing $50 per share. As of 12:30 p.m. EDT, the stock was up 25%.

GSX Techedu stock is becoming a battle-ground stock. Short interest -- people betting against it -- is surging due to prominent fraud allegations. However, ever since GSX Techedu management started openly disputing these accusations, the stock has rallied nearly 60%, suggesting at least some investors find the explanations reasonable.