. We've had a great run in it. I don't like the way the stock is trading here from a technical point of view. From a fundamental point of view, it's really overvalued."
Zoom Communications trades at 127 times next year's earnings, well above the 48 times multiple for the . Gordon added that the stock's recent pullback pushed it below its 50-day moving average, and he sees the possibility of it retesting its 200-day at $303. The stock currently trades at $376."The other one that I want to get rid of is Beyond Meat. Again, a very, very overvalued stock that is losing its strong technical position," Gordon said, pointing to its rangebound trading in recent weeks. "It can't seem to get through the $144 mark. I hope Beyond comes back.
Beyond closed Thursday just below $137 a share. Gordon unloaded his 50 shares of Beyond on Wednesday afternoon."I like this fundamental story behind it. I like the technical picture here," he said. "They're making a big move into content, streaming content, diversifying away from music, which I think they did a really good job fending off all the streaming music services, Apple Music included.
The stock has seen a "beautiful uptrend" over the long term, encountered some consolidation and a pullback and should resume its uptrend from here, Gordon said. He bought 25 shares of Spotify.
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