overvalue

The market is less overvalued than at the peak of the dot-com bubble in 2000, but more concentrated in a handful of companies.

Milei’s administration has defended its policy, saying that the peso isn’t overvalued and that it would continue to defend the currency.

The dollar is considered overvalued by a higher proportion of investors in October, Bank of America’s monthly global fund manager survey showed.

In other words - there are fears these companies are overvalued.

The trigger for the midweek selloff seems to have been the Argentine central bank’s Tuesday decision to restrict the purchase of dollars at the official—overvalued—peso rate.