Some flight cases to share with you on this topic.
When you are heavy, especially on 321, but it even can occure on 320, late retraction leads to overspeed warning as it active according to actual sl or fl position in contrary to PFD bar that dissapears togeather with lever.
When you are fast in retraction even at F, S speed you can fall on Vls, even Aprotection if command for retraction goes togeather with steep banking to tailwind.
I have seen both cases by myself, the first one more often, but the second one left more emotions in me.