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Short FAANG Stocks, BofA Says

Facebook
Photographer: Jason Alden/Bloomberg

The hammering in Facebook stock is a sign of a peaking market, and investors should consider betting against the tech darlings, according to Bank of America.

To prepare for monetary tightening and slower growth, they should short the FAANG bloc of Facebook, Apple, Amazon, Netflix and Google parent Alphabet, strategists led by Michael Hartnett wrote in a list of trades for the second half of 2018. In the firm’s latest survey of money managers, going long the group was described as the most-crowded strategy for a sixth month.