Mag 7? MANGOS? SpaceX forces name rethink on Wall Street's tech-stock moniker
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FANG covered Facebook, Amazon, Netflix, and Google. FAANG added Apple, and Magnificent Seven dropped Netflix while adding Microsoft, Nvidia, and Tesla, each shift reflecting changes at the top of the market.
"It's been Mag 7 for several years now. Maybe the markets are excited for something new," said Dustin Thackeray, chief investment officer at Crewe Advisors.
To be sure, not everyone expects the old label to ride off into the sunset.
"The Magnificent Seven label is not going away," said Dave Mazza, CEO of Roundhill Investments. "It is too embedded in how investors and the media view large-cap tech leadership. What you will likely see is additive terminology rather than replacement."
This article has been published in reuters.com via Yahoo News.
Mag 7? MANGOS? SpaceX forces name rethink on Wall Street's tech-stock moniker
SpaceX roared into markets this past week with a valuation of more than $2 trillion, surpassing two members of Wall Street's "Magnificent Seven" and raising a key question: Does the Mag 7 name still fit? And if not, what should replace it? The IPO, the biggest in U.S. history, vaulted SpaceX's...
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