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Given that there’s much uncertainty related to the market’s momentum in the coming weeks as investors eye the Fed’s forthcoming annual summit this week, focused on whether or not the central bank will detail its plan on tapering monetary stimulus, overvalued software stocks could retreat.
That said, investors must be cautious in picking software stocks. MongoDB Inc. (MDB), Monday.com Ltd (MNDY), and Asana Inc. (ASAN) look significantly overvalued at their current price levels. So, we think that these stocks are best avoided now.
