Investors should dump Groupon Inc (NASDAQ:GRPN), buy GoPro Inc (NASDAQ:GPRO) and trade Tesla Motors Inc (NASDAQ:TSLA) technically, the Fast Money Halftime Report traders said in a recent discussion on CNBC.
Stephen Weiss was reacting to a Wunderlich analyst Blake Harper upgrading Groupon Inc (NASDAQ:GRPN) to a “Buy” rating.
According to Weiss he doesn’t know how an analyst like Harper can get comfort “predicting what this company is going to do.” He said that Groupon Inc (NASDAQ:GRPN) is still a commodity business and that though they may have the most visible name, he’s staying away from the stock. He’s not even buying or shorting the stock.
Meanwhile, Pete Najarian was reacting to FBN Securities reiterating its “Outperform” rating on GoPro Inc (NASDAQ:GPRO). Najarian noted that GoPro Inc (NASDAQ:GPRO) was significantly up even earlier than the FBN Securities update.
Though he said that he doesn’t completely agree with competition not being big enough to trouble GoPro Inc (NASDAQ:GPRO), he said that he tends to be there when it comes to the positive outlook and the $75 price target the firm has on the tech company.
As for Tesla Motors Inc (NASDAQ:TSLA), Josh Brown said that he continues to think that it is a stock that you trade technically. He said that it’s a question of an investor’s personal time frame and evaluation as getting in front of news like a downgrade or upgrade in rating is hard.
Tesla Motors Inc (NASDAQ:TSLA) doesn’t have a valuation case to be made, he said, and though CLSA raised some good issues with its downgrade, these issues have already been known and processed by the market.
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