These 3 Stocks Are Absurdly Overvalued Right Now

It's been an odd year in the markets. What looked like it would be a difficult 2020 due to COVID-19 has turned into eight months in which the S&P 500 has climbed by a very respectable 10%. There's a real disconnect between Wall Street and what's happening in the economy, where job losses are in the millions and the recession may not be over anytime soon.

Along the way, many stocks are rising and trading at ever more expensive valuations. These prices could make them vulnerable if there's a correction, which at this point seems inevitable. Canopy Growth (NYSE: CGC), Zoom (NASDAQ: ZM), and Workhorse Group (NASDAQ: WKHS) are great examples of stocks you should steer clear of right now. Here's why.

Canopy Growth shares are down 23% in 2020. For a normal stock, that might be bad news. For a Canadian cannabis stock, however, that's average -- the Horizons Marijuana Life Sciences ETF (OTC: HMLSF) is down by a similar amount this year.

Source Fool.com