Things went from bad to worse for FAANG shareholders on Monday, as share prices of Facebook, Amazon, Apple, Netflix and Google dropped by another 4 to 6 percent in what shapes up to be a terrible fall for America’s tech heavyweights.
Since the beginning of September, every one of the FAANG group has suffered significant losses in market cap, with Amazon hit particularly hard. After the-commerce giant briefly reached a valuation of $1 trillion on September 4, things quickly went downhill. The company is currently valued at $736 billion, more than $250 billion off its peak valuation.
Looking at the entire year paints a slightly more positive picture for FAANG companies and their investors, as the following chart shows. Except for Facebook, all of them have gained enough through the first seven months of the year to offset the recent losses.
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