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'Fast Money' Traders Advise Viewer On Shopify And Lululemon

On CNBC's "Fast Money," Dan Nathan advised a viewer with a long position in Shopify Inc (NYSE: SHOP), at $1,050, to stay long.

· 09/03/2020 09:35

On CNBC's "Fast Money," Dan Nathan advised a viewer with a long position in Shopify Inc (NYSE:SHOP), at $1,050, to stay long. He would wait and see what happens before adding to the position.

Bonawyn Eison would wait and see if Shopify holds its 50-day moving average. He would not rush and sell the stock, but he would consider placing a stop loss in the name.

Eison would not buy Lululemon Athletica Inc (NASDAQ:LULU) now. He thinks there is a 10% of upside potential in the name and a 15% to 20% of downside potential. He would wait for a pullback to buy the stock.

Karen Finerman said the stock has gone parabolic and it trades like the company is working on a vaccine. That is how crazy the valuation has become. Finerman loves the name, she had a nice run in it and she sold the most of her position slightly above $300. She would not start a new position at the current price level.

Dan Nathan would not buy the stock either. He would wait for a pullback to the breakout level at $325.