Adam Jeffery | CNBCShort seller Jim Chanos warned investors about piling into "virus stocks" benefiting from the coronavirus lockdown.
Adam Jeffery | CNBCShort seller Jim Chanos warned investors about piling into "virus stocks" benefiting from the coronavirus lockdown.
"One area I would warn people about for example is the virus stocks," Chanos said on Thursday on CNBC'sThey are "doing well right now in this enforced lockdown. A lot of these companies are not structurally growth stocks that are trading at 30,40, 50 times earnings because they are going to do well in the first and second quarters of 2020."
The founder of Kynikos Associates listed Zoom Video, Peloton and Clorox as companies getting a boost from the stay-at-home trend amid the coronavirus pandemic. "Of course when the virus subsides and we all know it will, those companies will begin to not look as attractive going forward," Chanos said.for exclusive insights and analysis, and live business day programming from around the world.
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