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While many expect the risk-off sentiment to be short-lived and the economic growth to continue, some stocks that have moved ahead of their growth prospects on optimism about continued economic growth might retreat in the near term.
Growth stocks Snowflake Inc. (SNOW), Peloton Interactive, Inc. (NASDAQ:PTON), Chewy, Inc. (CHWY), Teladoc Health, Inc. (TDOC), and C3.ai Inc. (AI) all look overvalued at their current price levels considering their limited near-term growth prospects. So, we believe these stocks are best avoided now.
