FAANG STOCKS

FAANG STOCKS

TOPIC: Economy

Context- Thanks to the meme stocks and the vitality of the ‘FAANG’ stocks in the US markets during the pandemic, retail participation in developed markets peaked at 56 percent in 2021.

Concept-

FAANG Stocks:

• FAANG is an acronym for five big tech giants namely: Facebook, Amazon, Apple, Netflix and Alphabet (which owns Google).
• Amid the ongoing pandemic, FAANG companies have prospered while other businesses have suffered.
• For instance, more online shopping was done, people scrolled social media to curb their boredom and so on.
• The share prices of FAANG Companies have escalated in the year 2020 by close to 50% despite the ongoing COVID-19 pandemic.