Nearly $100B has been wiped off FANG this week. Here’s how to trade it [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
show chapters The FANG stocks have said goodbye to roughly $88 billion in market cap this week. One strategist has a game plan for how to trade the acronym in case of more downside. Across the tech area, the one thing you're going to be looking at is those February lows, Miller Tabak equity strategist Matt Maley told CNBC's Trading Nation on Tuesday. If we break below those, it's going to be a big problem. If they can hold them, it should be a much better situation. The XLK Technology ETF sold off in February to its lowest levels of the year as inflation fears spooked the broader market. It currently trades 6 percent higher than the intraday low of $60.97 set on Feb. 9. One concern for Maley is that a contained chipmaker sell-off has spread to broader tech in recent days. A few days ago when we saw the semiconductors kind of roll over pretty hard … the rest of tech was holding up pretty well, whether it be the FANG stocks or the XLK tech ET
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