- Facebook,Apple, Amazon,Netflix, and Google have had more than $600 billion of market value wiped out from their recent peak.
- Even though these stocks are bouncing back on Friday, they are significantly below their highs.
- Facebook has been hit the hardest among the FAANGs.
- Watch Facebook, Amazon, Apple, Google and Netflix trade here in real time.
The stock market selloff has crushed the FAANG stocks.
Facebook, Apple Amazon, Netflix, and Google — once considered to be some of the hottest stocks in the market — have now lost $604.3 billion since their recent peak. On Wednesday alone, they lost more than $175.5 billion in market value, according to a tweet from Michael Batnick.
Even though these stocks are bouncing back on Friday amid the broader market rally, they are significantly below their recent peaks.
In terms of losses, Facebook has been hit the hardest among the group. Its shares have fallen 30% since peaking in July, wiping out $188 billion of its market capitalization. The decline has come amid data-privacy concerns and a drop in users —resulting in a significant slowdown in its projected revenue growth for the years ahead.
Business Insider looked at where the FAANG stocks are in compared to their recent peaks and tallied how much they are on sale from their recent highs.
Note: Market Cap values are based on closing highs.
Ticker: FB
Peak market cap: $630 billion on July 25, 2018
Market cap lost: $188 billion
Loss on a percentage basis: 29.8%
Current share price: $153.35
Data from Markets Insider, Bloomberg
Apple
Ticker: AAPL
Peak market cap: $1.121 trillion on October 3, 2018
Market cap lost: $85 billion
Loss on a percentage basis: 7.5%
Current share price: $214.45
Data from Markets Insider, Bloomberg
Amazon
Ticker: AMZN
Peak market cap: $995 billion on September 9, 2018
Market cap lost: $156 billion
Loss on a percentage basis: 15.6%
Current share price: $1,719.36
Data from Markets Insider, Bloomberg
See the rest of the story at Business Insider