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Benzinga
Benzinga
Business
Rachit Vats

FAANG No More? Facebook, Netflix 'Fracturing' Away From Elite Tech Group, Says Gene Munster

Netflix Facebook Gene Munster Meta Doug Clinton FB Loup Loup Funds Mark Zuckerberg

Mark Zuckerberg-owned Meta Platforms Inc (NASDAQ:FB) and online video streaming platform Netflix Inc (NASDAQ:NFLX) are fracturing away from the elite FAANG group, Loup Funds co-founder Gene Munster said in a discussion with managing partner Doug Clinton.

What Happened: The analysts were discussing Meta Platforms’ disappointing earnings and a weak forecast that led to shares plummeting 23% in after-hours trading Wednesday. 

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