Jim Chanos warns investors against buying 'virus stocks' like Zoom, Peloton, and Clorox that are dominating the coronavirus lockdown

• Jim Chanos, founder of Kynikos Associates, warned investors against buying "virus stocks" doing well amid the coronavirus lockdowns in a Thursday interview with CNBC.
• Chanos named Zoom, Peloton, Teladoc, and Clorox as "virus stocks."
• "Of course when the virus subsides, and we all know it will, those companies will probably begin to not look as attractive going forward," Chanos said.
• Read more on Business Insider.

Jim Chanos cautioned investors against getting swept up investing in so-called "virus stocks" that are being boosted amid the coronavirus pandemic.

Chanos named Zoom, Peloton, Teladoc, and Clorox as stocks that are "doing well right now in this enforced lockdown" in a Thursday interview with CNBC.

"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," said Chanos, the prominent short-seller and founder of Kynikos Associates.

As the coronavirus pandemic roils global markets and puts entire countries on lockdown, some stocks have been lifted as people are confined to their homes to curb the spread of the disease. Shares of Zoom Video have surged 101% year to date through Wednesday's close, while Teladoc has spiked 94%.

Clorox has gained about 14% in the same timeframe. Peloton slipped about 1.5%, still outpacing the broader market's more than 20% decline.

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"Of course when the virus subsides, and we all know it will, those companies will probably begin to not look as attractive going forward," Chanos said, adding that he would be "very, very careful about just piling into things that are doing well because people are inside and will stay inside for the next three, four, five weeks."

Chanos also added that he is not shorting shares of Zoom or Teladoc. He also told CNBC that he had just closed a short bet against Luckin Coffee as the shares tanked 80% after a discovery that the chief financial officer had fabricated sales.

Going forward, Chanos said investors might want to hold off until 2021 to see how stocks perform.

"You have to write off 2020 and I think the market is and will ultimately," he said.

He said investors should look at businesses' 2019 performance. "Take an educated guess, do your research and do your work and what you think this looks like in 2021. If it's still a cheap stock then, then it might be an attractive investment on the long side," Chanos said.

And get the latest coronavirus analysis and research from Business Insider Intelligence on how COVID-19 is impacting businesses.