cageymaru
Fully [H]
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- Apr 10, 2003
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The FAANG stocks known as Facebook, Apple, Amazon, Netflix, and Google (Alphabet) have been the darlings of Wall Street for years. Now they are coming under fire Monday as they have lost $185 billion in value over the past 2 sessions. Larry McDonald from 'The Bear Traps Report' predicts a 30% to 40% downside on the FAANGs. These particular stocks are so important that $6 trillion has come into passive management and all of that has been invested into the FAANG stocks.
A 30 percent decline would turn Apple and Alphabet lower for the year. Facebook is already negative for 2018 and currently trading in a bear market having fallen more than 20 percent from its 52-week high. Netflix is close to a bear market, but would still be positive for the year if it fell 30 percent from current levels. Amazon would also remain higher for 2018, but would be pulled into a bear market.
A 30 percent decline would turn Apple and Alphabet lower for the year. Facebook is already negative for 2018 and currently trading in a bear market having fallen more than 20 percent from its 52-week high. Netflix is close to a bear market, but would still be positive for the year if it fell 30 percent from current levels. Amazon would also remain higher for 2018, but would be pulled into a bear market.