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Momentum most overvalued since tech bust: Analyst

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Even with the recent sell-off, momentum stocks are still expensive according to one Wall Street firm.

"Momentum stocks trade at an extreme premium to value stocks," JPMorgan's Dubravko Lakos-Bujas wrote in a note to clients Tuesday. "Their valuation spread is the highest since 1980, except for during the tech bubble."

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