It was all fun and games until you lost a trillion dollars in an asinine acronym based investment plan. Blame Cramer — he started this shit with FANG. How many people got lured into those stock predicated upon the marketability of its catchy acronym? I bet a lot.
Thusly, losses are exaggerated to the downside, especially for mega cap tech, because of investor concentration.
Market capitalization losses since their 52-week highs:
Facebook: $250 billion
Amazon: $255 billion
Apple: $222 billion
Netflix: $63 billion
Alphabet: $155 billion
As soon as the market opens, losses would have exceeded $1 trillion since the top.If you enjoy the content at iBankCoin, please follow us on Twitter