In two sessions, $200 billion of FANG market cap up in smoke
Updated : October 30, 2018 07:35 AM IST
With each company’s share price down between 14 percent and 24 percent in October, the quartet of stocks that has been the most popular trade on Wall Street in recent years appears to be in trouble.
The combined companies’ market capitalisation has fallen from a record $2.5 trillion in July to $1.93 trillion on Monday.
The most recent catalyst hurting FANG was Amazon’s quarterly results late on Thursday, which missed analysts’ expectations and ignited worries the tech darling is finally facing stronger competition.