Tencent Beats FB

If you thought FAANG has been ugly, then check out Tencent lately. The stock is down 25% from 52-week highs and has lost 143 Billion USD in value from highs, actually beating FB who has lost only 136 Billion USD from highs.

Note the ugly break down as well as the death cross (100 day crossing 200-day moving average).

Recent heroes have suddenly turned biggest losers. Below just a quick chart of Tencent and FB over past 3 years.

Source: charts by Bloomberg