Market Takes A Bite Out Of FANG To Start 2016
The combined closing prices of FANG -- Facebook Inc (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) and Google Inc (NASDAQ: GOOG) -- were trading lower by $74.05 at $1579.76 as of 12:30 p.m. ET in Monday's session.
The issues in the acronym made famous by CNBC's Jim Cramer allowed the S&P 500 index to post a small loss for 2015 as opposed to being deeper in the red. As a result, many market pundits will closely follow the price action in these issues to identify a shift in investors sentiment.
Of the four volatile issues, Netflix (down $7 at $107.46) is leading the charge lower after a downgrade by Baird from Outperform to Neutral, lowering the price $128 to $115.
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