Why No Love For Netflix? Steve Grasso Ponders That Stock And Other Stay-At-Home Trades

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Stuart Frankel & Co.'s Steve Grasso analyzed the stay-at-home trade stocks Wednesday on CNBC's "Power Lunch."

Grasso said he would sell Netflix Inc NFLX. The stock is currently trading below its 200-day moving average of $515. And, it's the first time since March 2020 that Netflix has traded below its 200-day moving average, he said. 

Related Link: Thinking About Buying Stock In Netflix Or Roku?

Grasso would also sell Zoom Video Communications Inc ZM. Many corporations will maintain the work-from-home option, but there will still be "less people" on Zoom, Grasso said. If the stock can hold support around $300, it has a chance to go higher, he added. 

Grasso would buy DocuSign Inc DOCU. No matter where someone is, "you want to be able to sign [documents] from your cell phone," he said. 

Grasso told CNBC he would sell Peloton Interactive Inc PTON. People want to get out of their houses and move on to different experiences, he said. 

Related Link: Peloton's Safety Issues: What Investors Need To Know

He would buy Chewy Inc CHWY. People won't stop buying food for pets once the pandemic is over, he said, and expects the stock to bounce back over $100. 

Domino's Pizza, Inc. DPZ is a sell, Grasso said, citing that the company has "too much competition."

(Image by Vinzent Weinbeer from Pixabay )

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Posted In: Long IdeasShort IdeasMediaTrading IdeasChewyCNBC Power LunchDocuSignDomino'sNetflixPelotonSteve GrassoStuart Frankel & Co.Zoom Video
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