SAN FRANCISCO (Reuters) – Facebook ( FB.O ), Amazon.com ( AMZN.O ), Netflix ( NFLX.O ) and Google parenting algorithm…
SAN FRANCISCO (Reuters) – Facebook ( FB.O ), Amazon.com ( AMZN.O ), Netflix ( NFLX.O ) and Google parenting algorithm ( GOOGL.O ) was in the midst of a volatile session on the US stock market on Monday and spends $ 200 billion of the so-called FANG Group’s combined market value in two sessions.
PHOTO PHOTO: Facebook, Amazon, Netflix, and Google logos are viewed in this combination photo from Reuters files. REUTERS / File Photos / Filfoto
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 deal on Wall Street in recent years seems to be in trouble.
The combined companies’ market value has fallen from record 2.5 billion dollars in July to $ 1.93 billion on Monday.
The latest catalyst for injured FANG was Amazon’s quarterly results late on Thursday, which missed analysts’ expectations and ignited concerns, the technical darling is ultimately facing stronger competition.
Amazon’s share has since then fallen 14 percent since then, the worst two-day decline since 2014, with its online retailer and cloud computing seller renounced as the second-largest US company by stock market rating to Microsoft ( MSFT. ).
The steep two-day fall in Amazon and losses in other FANG shares have reduced the Group’s market value by $ 200 billion to $ 1.93 billion.
The next CATEGORY Catalyst can come on Tuesday, when Facebook sends quarterly results after the clock. Analysts expect on average that social networking revenue has increased by 33 percent in the third quarter, the slowest quarterly trend since the company noted its shares in 2012, according to Refinitiv.
Investors in recent months have become increasingly concerned about rising costs and damage to Facebook’s reputation for criticizing the handling of users’ personal data.
Reporting by Noel Randewich; Editing Diane Craft
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