The two members of the FAANG groupDefanged.

Five months have passed since the Nasdaq reached its peak at the end of last year. Netflix FacebookMeta Platforms (now Meta Platforms), have been crushed and lost most of their gains over the past half-decade.

Netflix has fallen nearly 68% from the peak of Nasdaq on November 19. Facebook, however, has lost more than 45% and is now down over 50% from its peak two months prior.

Both companies had unstoppable growth in recent years and seemed to be protected by impassible moats. Netflix had become so ingrained in American homes with essential content, that it could raise its monthly subscription price without letting up. Facebook with its dominant advertising engine and billions of users, was making envious online ad revenues.

Those stories have flipped relatively quickly — with investors reassessing the companies’ prospects in the face of increased competition and a deteriorating macroeconomic environment.

Netflix’s market capitalization was $99.2 Billion as of Friday’s closing, down from more than $300 billion in November. Facebook joined briefly the trillion dollar club last year, but it now has a market cap of $532.6 billion.

Netflix suffered a particularly difficult week in the past week. Stocks are down plummeted 35%On Wednesday, the streaming service suffered its worst day in more than ten years. It said that it had lost more subscribers in the past decade and expects to lose another 2 million in the next quarter.

Next week, Facebook will report earnings. Stock has been in pressure since its last earnings report in FebruaryThe company failed to meet user expectations, and the company warned about increased competition from apps such as TikTok.

Netflix has seen its price drop to $18 per month since January 2018, but Facebook’s prices have not fallen this low since April 2020.

The Market broadly slid on FridayA wave of selling was triggered by the possibility of higher interest rates. Nasdaq lost 2.6%

Investors who invested in Netflix or Facebook a decade ago remain solidly in the red, while newer shareholders are struggling. Below are the annual returns for a 10-year (five-year), three-year (3-year) and one year basis.