3 Falling Stocks That Are Still Overpriced
A big challenge when it comes to buying stocks in a bear market is determining which ones are good buys, and which stocks you're better off steering clear of right now. Three stocks that I'm not convinced are buys yet -- even at their reduced prices -- are Biogen (NASDAQ: BIIB), Twitter (NYSE: TWTR), and Costco Wholesale (NASDAQ: COST).
Even before Biogen announced last month that it was effectively giving up on its Alzheimer's treatment, Aduhelm, it already looked like a stock destined for a steep sell-off. The controversial treatment may have convinced the Food and Drug Administration that it was effective, but many health officials disagreed and some doctors even refused to prescribe it. Revenue of just $2.8 million from Aduhelm through the first three months of 2022 was already a huge disappointment as the writing looked to be on the wall.
Unsurprisingly, the stock has been falling sharply over the past year, down more than 50%, while the S&P 500 declined by only 12%.
Source Fool.com
