A nasty December is adding to pain to former FAANG+ highfliers, including Amazon, Apple and Tesla.
Stocks were on track for a losing month, and in a reinforcement of a central theme of the 2022 equity selloff, former early pandemic highfliers were feeling the worst of the pain.
Analysts at Bespoke Investment Group, in a Wednesday note, took a look at the 10 stocks that make up the New York Stock Exchange’s FANG+ Index, which aims to track the 10 most highly traded technology giants. While Apple Inc. AAPL has fallen the least in the year to date in terms of change in the share price, it has lost the most in market cap at $844 billion. Amazon has seen its market cap fall the second-most at $843 billion, getting cut nearly in half. Tesla Inc. TSLA , along with Amazon, is one of two names to be ejected from the “$1 trillion market cap” club this year.
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