Tech Investor Turns Bearish On Visa, Mastercard

Paul Meeks, a portfolio manager at Independent Solutions Wealth Management, shared with the viewers of CNBC's "Trading Nation" his bearish view on Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA).

Visa and Mastercard are awesome companies and a backbone of payment processing, but they require a lot of swipe fees, he said — a lot of face-to-face transactions at places like hotels, bars and restaurants. Meeks doesn't see that happening.

The stocks were pretty rich going into the crisis, and Meeks said he wants to exit and put his money into something that is going to do better during and after the coronavirus.