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Furthermore, the rising uncertainties related to the emergence of the newly found coronavirus strain could wash out stock market gains in the weeks ahead. Given mounting concerns about the new variant’s implications on economic activity and inflationary pressure, investors should be cautiously positioning themselves to endure a potential pullback in the near term.
So, we believe speculative overvalued stocks such Lucid Group Inc. (LCID) and Upstart Holdings Inc . (UPST), which are current favorites of Reddit investors, are best avoided now.
