NEW YORK (TheStreet) -- LendingClub's(LC) - Get Report stock is down almost 45% so far in 2015, yet it still sells at more than 17 times sales. Brad Lamensdorf, portfolio manager for the AdvisorShares Ranger Equity Bear ETF(HDGE) - Get Report, said that is an "outrageously expensive" multiple for the peer-to-peer lender.
"We see a slew of competition coming and there is also some legal and regulatory hurdles that are going to start making it very difficult for them as well," said Lamensdorf, who is short the stock.
Meanwhile, Lamensdorf is also betting against The Gap(GPS) - Get Report, which has seen its shares sink almost 17% year-to-date. Earlier this week the retailer said July sales were $1.12 billion compared with net sales of $1.17 billion for the same period last year. That's a 3% drop compared to a 2.3% decline expected by Wall Street analysts.
Additionally, the apparel retailer reported a 7% drop in July same-store sales at its namesake Gap brand, with a 10% drop at Banana Republic. Gap is expected to fully report its second-quarter earnings results on Aug. 20 at 1:00 pm Pacific Time.
"They are really getting a lot of competition from the internet and its really cannibalizing their entire business," said Lamensdorf.
CarMax(KMX) - Get Report shares have dropped 6% thus far in 2015, yet Lamensdorf said the stock can still fall further despite the fact that Goldman Sachs recently put the company on its Conviction Buy list.
"We feel like we are basically in an auto bubble," said Lamensdorf. "The auto finance business has gotten very out of control with no-doc loans like during the housing bubble of 2006 and 2007. We just think there is an accident coming in the auto finance world and CarMax has the most amount of paper on their books."
Finally, Lamensdorf is not a fan of Zillow's(Z) - Get Report shares, down 30% so far in 2015, primarily due to the real estate listing site's valuation of more than 9 times sales. "Even with the merger with Trulia, it's really just two high price to sales stocks getting slammed together, but these companies traditionally trade at two and three times sales," said Lamensdorf.