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Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily.
“One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well right now in this enforced lockdown. A lot of these companies are really 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,