A week before coronavirus crashed the price of oil, tech giants Facebook, Amazon, Netflix, and Google (FANG) together added $251 billion to their market values — their biggest gain since Mark Zuckerberg took his social media platform public in 2012, reports the Wall Street Journal. In fact, tech stocks have outperformed the wider market since the coronavirus (COVID-19) pandemic spurred record sell-offs in March. The FANG+ index, a set that includes the likes of Apple, Alibaba, Tesla, and Twitter, is actually up by almost 10% year-to-date. [Read: Amazon stock hits new all-time high as coronavirus spurs demand] On the other hand, the S&P 500 index —…
This story continues at The Next Web
from The Next Web https://ift.tt/2wWjfVH
