These ‘profitless Nasdaq junk’ stocks are a risk to investors, says Josh Brown

Tech stocks are outperforming in the new year, but some of the names leading the market right now pose some of the biggest risks for investors, according to Ritholtz Wealth Management CEO Josh Brown. “The actual leadership is profitless Nasdaq junk, right, and that I think is where your biggest risk still is, despite the big move,” he told CNBC’s “Halftime Report” on Tuesday, calling many of the current market leaders “garbage” stocks. The comments from Brown come amid Tuesday’s sharp market selloff, with the Nasdaq Composite last trading down about 2.3% on the day as concerns mounted that a Federal Reserve pivot may not come as soon as expected. The Nasdaq’s been on a tear so far this year, last up more than 10% and outperforming both the S & P 500 and Dow Jones Industrial Average . In a note published Sunday, Morgan Stanley’s Mike Wilson said that the bear market rally that kickstarted in October has…

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