Can FAANG Stocks Bounce Back Amid Market Turmoil?
ZacksNovember 19, 2018
Tech stocks have been beaten down, with FAANG stocks at the helm of the carnage. Per a Wall Street Journal report, FAANG stocks have collectively lost around $575 billion in market cap since the beginning of October. It goes without saying that FAANG stocks have had a rough ride this year. Understandably, there have been multiple reasons behind this decline.
Facebook, Apple, Amazon Bleed
Per a Wall Street Journal report, the FAANG family, comprising Facebook Inc. FB, Apple Inc. AAPL, Amazon.com Inc. AMZN, Netflix, Inc. NFLX and Alphabet, Inc.’s GOOGL Google, has collectively lost $575 billion in market value since the beginning of October. Both Apple and Amazon were robbed of their $1 trillion market cap crowns.
Meanwhile, Facebook got embroiled in a data misuse scandal involving Cambridge Analytica that resulted in the company’s shares taking a hit. Following this, Facebook posted disappointing second-quarter results, wherein it missed earnings expectations for the first time in 11 quarters. So much so that Facebook lost almost $150 billion in two hours after missing expectations on both earnings and revenues.
more,,,,,,,,,,,,,,,,,,,,,
http://finance.yahoo.com/news/faang-stocks-bounce-back-amid-135401795.html
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
| 
