The behemoths of the stock market are now the high-tech FAANG stocks, so what's happened to the old warhorses? Ten years ago, General Electric was the second largest company in the S&P 500 behind only Exxon Mobil. It’s still larger than 93 percent of the stocks in the S&P 500, but it ranks 33rd at this point.
General Electric still has a market cap of $153.6 billion, but in the past ten years, the company has lost $240.7 billion in value. Meanwhile, over the same ten years, three of the four largest stocks right now have each added more than $500 billion. Facebook has also added $500 billion in market cap, given that it wasn’t even public ten years ago and it now has a market cap of $521 billion.
Had someone told you in 2007 that the S&P 500 would be up 80 percent ten years from now, you would have certainly expected GE to be leading the way and adding to its market cap. Instead, this old warhorse has lost $240 billion.
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