Waiting for a stock to drop to a specific price is a common practice among investors. While this strategy makes sense, it can be risky. The stock may take a long time to drop to the desired price. There's also a risk that it never gets there at all.

That said, there are many great businesses that do have overvalued stock prices, where price does matter for investor returns. Keeping stocks on a watch list to be added at a certain price could be the right strategy. Here are three stocks that are pricey right now but worth buying if they take a dip.

Celsius Holdings (NASDAQ: CELH) is an energy drink company that has been on a mind-boggling run. The stock is up more than 1,300% since May 2020. By comparison, the S&P 500 gained only 49% over the same time frame. Put another way, a $10,000 investment in Celsius three years ago would be worth $146,000 today.

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Source Fool.com