These 3 Stocks Might Be Getting a Little Too Expensive

Any stock that's making forward progress in this market environment is certainly worth a closer look. Just because a handful of tickers continue to edge higher, however, doesn't inherently make them buys. A bunch of them have reached relatively outrageous valuations, and they're flirting with a wave of profit-taking once the market collectively realizes it's priced them too richly.

Here's a rundown of three high-profile names that are becoming -- or already are -- just too expensive.

It's been a pretty good year for U.S. solar stocks. In addition to continued adoption of solar power, the Inflation Reduction Act currently being considered by the House of Representatives after being passed by the U.S. Senate promises to be a boon for the business, as it provides a number of clean-energy tax incentives. The end result? The MAC Global Solar Energy Index is up nearly 11% so far this year and is knocking on the door of higher highs. Shares of Enphase Energy (NASDAQ: ENPH) have followed suit, and for understandable reasons.

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Source Fool.com