Covid stock boom for Peloton and Zoom a result of 'lazy investing,' says NYU's 'dean of valuation'

Share
Peloton Interactive Inc. stationary bicycles sit on display at the company's showroom on Madison Avenue in New York, U.S., on Wednesday, Dec. 18, 2019.
Jeenah Moon | Bloomberg | Getty Images

(This story is for CNBC Pro subscribers only.)

New York University finance professor Aswath Damodaran told CNBC on Thursday he believes the coronavirus-fueled surge in the stocks of Zoom Video and Peloton have pushed their valuations way too high.

"I think very early in the pandemic, Zoom and Peloton to me became the symbols of lazy investing — lazy investing in the sense of, 'Hey, I want to take advantage of the pandemic. Let me pick the companies that I think will benefit,'" Damodaran, known as the "dean of valuation" for his company analyses, said on "Fast Money."

More In CNBC TV Picks

CNBC ProTom Lee says hot IPOs may be a sign retail investors are coming back to stocks
CNBC ProOakmark’s Bill Nygren says these two stocks offer hidden value for investors
CNBC ProCramer says Zoom is here to stay and its stock might have bottomed out