The combined prices of the compnents of the FANG index (made famous by Jim Cramer of CNBX) is getting destroyed. For those unfamiliar with the acronym, the letters represent the Facebook FB, Amazon.com AMZN, Netfix Inc. NFLX and Google GOOG.
At the end of 2015, the combined prices of these four issues was $1653.73. As of 2:30 PM on Wednesday, the FANG index was at $1494.40.
That represents nearly a 10 percent decline for the year compared with a decline of just under 7 percent for the S&P 500 Index.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in