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  • The US stock market is pricey, but there’s no bubble, Touchstone Investments strategist Crit Thomas says.
  • There are pockets of speculation, but 2 catalysts could create a widespread market bubble.
  • Thomas breaks down those catalysts and how to position in the current bubbly environment.

The US stock market is looking pricey, but it isn’t in a bubble, according to Crit Thomas, a global market strategist at Touchstone Investments, a firm that manages $26 billion in assets.

The bubbles are instead forming in low-priced and low-volume stocks.

Shares in video-retailer Gamestop (GME) are an example of this. The shares increased 815% from $35.50 on January 15 to $325 on January 29. The surge was driven by retail investors looking to squeeze hedge funds that had shorted the stock.

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