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U.S. stocks too expensive? Morningstar’s top exec reveals where he’s investing instead

“We believe markets outside the U.S. are more attractive than the U.S. largely from a valuation perspective,” Kunal Kapoor, CEO at Morningstar, said.

Lucid intends to use the proceeds “for general corporate purposes, which may include, among other things, capital expenditures and working capital.”

The Nasdaq Biotechnology Index (NBI) has gained 6.5% this year, outpacing gains from both the S&P 500 and tech-heavy Nasdaq Composite.