In this week's episode of State of the Market, Chief Income Strategist Marc Lichtenfeld sounds the alarm on three stocks to avoid like the plague in 2022. A software "business," a highly suspicious biotech and an electric-car manufacturer all carry valuations that bely concern. Marc affectionally refers to the first company as the "biggest short on the market." It prefers to behave like a "surrogate for Bitcoin" rather than develop a full, responsible business model. The second is a pharmaceutical company with a habit of prematurely declaring cures... even though it has not produced a single Food and Drug Administration-approved drug in its 38-year existence. Last, and certainly not least, Marc puts us on alert about a top electric vehicle manufacturer and household name. But unlike with the two previous no-go stocks, Marc's judgment on this one doesn't reflect poor management or financials. |
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