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In addition, Democrats are seeking to cover their $3.5 trillion Build Back Better spending proposal by limiting the tax break that investors receive when investing in tech startups. If passed, the bill could curb the 100% capital gains exemption. Moreover, prolonged semiconductor chip and components shortages are creating production bottlenecks in several tech companies.
Given this dire backdrop, we think it might be reasonable to avoid fundamentally weak, and overvalued, tech stocks Affirm Holdings, Inc. (AFRM) and Farfetch Limited (FTCH).
