Facebook shares fell after a WSJ report that CEO Mark Zuckerberg is becoming much more aggressive in how he manages the tech giant. Apple shares dropped following a report the company has cut production for its newest iPhones. Facebook’s stock hit its lowest level since February 2017 on Monday. Facebook is on pace to finish its third straight month in the red, which would be its longest monthly losing streak ever. Each of the five ‘FAANG’ stocks – Facebook, Amazon, Apple, Netflix and Alphabet – slipped into a bear market during Monday trading. A stock falling 20% or more from a 52-week high is considered to be in a bear market.
The percent change from 52-week high to the low on Monday for each of the five ‘FAANG’ stocks:
Facebook (FB): -39.5%
Amazon (AMZN): -25.4%
Apple (AAPL): -20.5%
Netflix (NFLX): -35.6%
Alphabet (GOOGL): -20.3%
Sven Franssen