“FANG” Stocks Dropped $100 Billion In Value Amid 8-Day Losing Streak

Share This Article
November 5, 2016 10:40am Nasdaq:AAPL

apple-logo-2In the last week, the so-called “FANG” stocks (FB, AMZN, NFLX, GOOGL) have stumbled. As earnings and outlooks disappointed, shareholders have awoken to the new normal low growth world and wiped over $100 billion in market capitalization of the four horsemen of the Fed’s wealth creation bubble.

FANGs are now down 8 days in a row (no doubt helping fuel the S&P 500’s massive nine-day losing streak):

Losing a massive $108 billion in market cap during that time frame:

This is the biggest drop in these four names since the February growth scare — which was only saved by massive coordinated global central bank money-printing, and which is simply not about to happen this time.

Leading the way lower over the past eight sessions has been Apple Inc. (NASDAQ:AAPL), which has plunged nearly 8% since the October 25 close. Trouble for AAPL began on that very date, when the company reported mixed fiscal Q1 earnings results. As the shares continue to drop, they’re now reaching a critical technical support level, which if crossed could lead to significantly more downside.

Facebook, too, has seen significant declines, falling well over 8% in the past eight sessions, while Alphabet (Google) is down 5.7%, and Netflix down 3.5%.

Year-to-date, GOOGL shares are now essentially flat, while AAPL is up 3.4%, NFLX up 6.69%, and FB is still up 15.36% since the beginning of 2016. The benchmark S&P 500 has gained 2.29% in the same period.

9 "BUY THE DIP" Growth Stocks For 2020

Read Next

Get Free Updates

Join over 50,000 investors who get the latest news from ETFDailyNews.com!

Most Popular

Explore More from ETFDailyNews.com

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again!

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories