On CNBC's "Trading Nation," Mark Tepper of Strategic Wealth Partners said he would begin to rotate out of Peloton Interactive Inc PTON into Planet Fitness Inc PLNT.
He isn't going to that today because he would be interested in buying Planet Fitness at a significantly lower price, somewhere in the lower $60s. He thinks the stock could hit that price level as we are heading into the second wave of lockdowns.
Todd Gordon of TradingAnalysis.com said Peloton is trading at 300 times next year's earnings, but it's spending a lot on growth so he is not overly concerned about the high multiple. Gordon doesn't see any resistance for the stock until $200. He has been long since $35 and if he sees any hesitation into the Feb. 3 earnings he's going to look for protection.
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